Simon Baylis

Small Businesses Call for Flat Rate of Tax in Upcoming Budget

Small Businesses Call for Flat Rate of Tax in Upcoming Budget

55% of the UK’s small businesses want Osborne to introduce a flat rate tax system in this week’s Budget, according to a report by accountancy firm Moore Stephens. The majority of the business surveyed said that flat rate tax measures would help simplify the taxation system which is seen as too complicated and time consuming. 55% of respondents were also in favour of government pushing for further crackdown on tax avoidance, particularly VAT avoidance, by large multi-national companies. Simon Baylis, partner at Moore Stephens, said: “Above all small businesses want simplicity in the tax system. “Reducing the complexity of the tax system would provide a boost for businesses as owners and managers would regain time for productive work that is currently spent on tax issues.” Need help completi... »