FPB thumbs up to Opposition tax proposal
FPB has welcomed the shadow chancellor’s proposal for greater lead-time on tax bills and a simplified tax system
The
Forum
of Private Business (FPB) has welcomed proposals by shadow chancellor George
Osborne who has committed a future Tory government to a simplified tax system,
including giving advance warning and increasing scrutiny of any proposed legal
changes.
The FPB has been lobbying against disproportionate taxation as part of its
‘Think Smallest First’ campaign, which was launched last week in Brussels by
Phil Orford, FPB chief executive, in a speech on the small business act for
Europe.
In November 2007, Osborne signed the FPB petition calling on the government
to reverse its decision to increase Capital Gains Tax (CGT) by removing
entrepreneurs’ taper relief, which had benefitted many of the FPB’s members.
The petition followed research carried out in Referendum, the quarterly FPB
survey of members, in which an overwhelming majority of 97% said the UK had
become a worse place in which to do business as a result of the government’s tax
regime.
Further reading:
Howe unveils tax overhaul plans at ICAEW
Conservatives to propose more lead-time on tax