The Office of Tax Simplification (OTS), the independent adviser to government on tax simplification, has published a call for evidence and an online survey to seek views about tax as it impacts on businesses as well as professional advisers and representative bodies.
The OTS is interested in the everyday experience of business owners and managers as they engage with tax throughout the lifecycle, from start-up and registration, through calculating and paying tax, to business closure/transfer.
The review will focus mainly on smaller businesses, including self-employed individuals. It follows an earlier business lifecycle report on areas such as raising capital and disposing of a business.
The OTS says: “Small and medium sized businesses play a key role in the UK economy. In 2017-18 they employed 16 million people and paid £155bn in tax (25% of all tax paid). The inherent complexity and challenges faced by smaller businesses in their everyday affairs means that some find tax and other regulatory requirements difficult to manage, and the review aims to identify ways to make tax simpler, fairer and better for those businesses.”
Responses should be sent to email@example.com by 7 December 2018. The OTS expects to publish its report in the spring of 2019.
To take the survey online click https://www.surveymonkey.co.uk/r/KDGY6M2