Welcome for tax simplification moves
The Office of Tax Simplification proposes the integration of income tax and national insurance contributions, and a radical new approach to taxation for the very smallest unincorporated businesses.
It also sets out a series of options for dealing with the controversial IR35 legislation.
Advertisement
Hide AdAdvertisement
Hide AdAnthony Thomas, deputy president of the Chartered Institute of Taxation said: "I welcome the progress which the OTS has made in this area. There is a real need to simplify the way small businesses are taxed.
"Too often sticking plasters have been applied to problems when what was needed was a thorough review. Small firms should be able to make commercial decisions that are not distorted by hasty and ephemeral changes in tax policy."