Gordon Brown has been told by a Lord’s committee that his last finance bill
as chancellor has failed to do enough to simplify the tax system.
The House of Lords economic affairs committee said that simplification was
crucial if business was to cut costs and the UK was to maintain its position as
an attractive destination for international investment,
the FT reports
‘The government must go further and move faster in simplifying the corporate
tax regime’ said committee chairman Lord Wakeham. ‘While there are some positive
steps in the 2007 finance bill we are concerned that Britain is still losing
The committee said mandatory online filing of tax returns should be scrapped
and recommended further education on using the internet for filing returns.
MTD represents 'the single most significant change to the UK’s system of taxation in recent times', says Knill James partner Nick Rawson. So, how prepared are SMEs for digital tax reporting?
The SME community voices concern about the chancellor's measures in the Spring Budget
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory