A BUSINESS tax break extension has been criticised for complicating matters at a time when government is supposedly striving for simplification.
The Chartered Institute of Taxation said extending the short life asset rule – which allows companies to claim better allowances on assets they sell or scrap – will mean complex record keeping with few advantages.
Tax policy director John Whiting said “in many cases the benefit of this measure will be of limited value”, warning firms will be forced to keep “additional, more complicated records” for up to eight years.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...