London Chamber of Commerce attacks Finance Bill

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.’

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