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Tax on SMEs in 2024

While 2024 has not exactly been plain sailing for SMEs, the tax related developments have not been as radical or fundamental as might have been feared, writes Andrew Constable (Mercer & Hole).

Politically 2024 has been a year of significant change in the UK with the Labour Party winning a general election and a decade and a half of Conservative (or Conservative-led) governments coming to an end.

Along with the change in government there were wide-ranging hopes and fears of significant tax measures that might be implemented as well as plenty of more sober representations as to what the new government should do with the tax system. Some of the representations that were particularly relevant to SMEs were focused on improvements in HMRC’s service levels the publication of a Business Tax Roadmap and various simplification and digitalisation measures.

Now five months on from...

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