TaxPersonal TaxLondon Chamber of Commerce attacks Finance Bill

London Chamber of Commerce attacks Finance Bill

The London Chamber of Commerce has rounded on the government by accusing it of producing a Finance Bill which is no good for business, the ordinary tax payer nor the Inland Revenue.

Simon Sperryn, chief executive of the London Chamber turned on the 558-page document saying it was too big and would only make the taxation system more complicated when it was in need of simplification.

He said: ‘It will mean the tax system will become yet more complex when businesses need a far more simple tax system.

‘This increasing complexity is yet another major headache for businesses, especially small firms who are struggling to cope with the increasing level of red tape coming from government.’

This is just the latest in a series of attacks on the Bill which has so far gone through constant revision and has prompted much controversy.

The Tories in particular have seen it as a fertile ground for harrying Labour.

Sperryn, and the chamber’s taxation committee have now written to the House of Commons Standing Committee looking at the Bill to outline their concerns.

Sperryn said: ‘The increasing complexity means that businesses will have to spend more time and money complying with it, whilst individual taxpayers will also need more external help to plan their tax affairs.

‘The changes will also make it harder for the Inland Revenue to administer the system, with increased likelihood of error and poor service to the taxpayer.’

Related Articles

LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

3d Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

2w Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Industry reaction: Taylor Review does not go far enough in addressing tax issues

Legal Industry reaction: Taylor Review does not go far enough in addressing tax issues

5m Alia Shoaib, Reporter
Does the Taylor Review sufficiently address the gig economy?

Corporate Tax Does the Taylor Review sufficiently address the gig economy?

5m Alia Shoaib, Reporter