Give business a tax break, says ICAEW
Chartered accountants are urging the Chancellor to stop increasing the tax burden on businesses and start simplifying the whole system.
Tax experts at the ICAEW fear the business ship is ‘in danger of capsizing’ under the weight of new tax legislation, including the new rules for company cars, the climate change levy and the aggregates levy.
Frank Haskew, senior technical manager of the ICAEW’s Tax Faculty, said: ‘Businesses need a break – they are fed up with trying to fathom never-ending legislation.’
The faculty argued published draft legislation already filled more than 250 pages and it feared the next Finance Bill could be the longest on record.Haskew urged the Chancellor to find other ways to raise money for increases in public expenditure.
‘If more money is needed to fund the NHS, the Chancellor should have the courage of his convictions and raise the money in a clear and straightforward way – and not resort to further stealth taxes or yet more changes of policy that damage UK business.’