Nearly a decade has passed since the Inland Revenue issued a technical note entitled 'A Review of Small Business Taxation'.
Since then we have seen a range of measures that have failed to find a lasting solution to how to improve the tax system for small and medium sized enterprises (SMEs).
There's been good attempts (trying to improve targeted reliefs like research and develop tax credits) bad attempts (the ill-fated non-corporate distribution rate that lasted under two years) and 'ugly' attempts such as the controversial IR35 rules which still give rise to confusion many years on since inception.
Much of the difficulty in finding solutions is that this is a notorious hard area to make change which marries the dual intentions of bringing some degree of simplicity to smaller entities whilst collecting a proportionate amount of tax.
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Nearly a decade has passed since the Inland Revenue issued a technical note entitled 'A Review of Small Business Taxation'.
Since then we have seen a range of measures that have failed to find a lasting solution to how to improve the tax system for small and medium sized enterprises (SMEs).
There's been good attempts (trying to improve targeted reliefs like research and develop tax credits) bad attempts (the ill-fated non-corporate distribution rate that lasted under two years) and 'ugly' attempts such as the controversial IR35 rules which still give rise to confusion many years on since inception.
Much of the difficulty in finding solutions is that this is a notorious hard area to make change which marries the dual intentions of bringing some degree of simplicity to smaller entities whilst collecting a proportionate amount of tax.
...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
