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Could firms using facilities management be boosted by OST's first task?

July 21st 14:46 Cost Management 

UK businesses using facilities management cost reduction techniques could be among those to benefit from a new review into small business taxation.

The coalition government's newly-formed Office of Tax Simplification (OST) has been informed that its first task will be to review the UK's small business tax system.

This news has been welcomed by the Chartered Institute of Taxation (CIOT), which said a review could "even out the playing field" for smaller organisations across the country.

Andrew Hubbard, immediate past president of the CIOT, said: "Too often we have seen sticking plaster applied to problems when what is needed is a thoroughgoing review.

"A more carefully planned and integrated approach would not only aid tax compliance in the small business sector but also allow small businesses to make commercial decisions that are not distorted by hasty and ephemeral changes in tax policy."

The expert added that following the review, the UK should benefit from a tax system that offers more "certainty, simplicity and stability".
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