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Is the tax system too time consuming for businesses using facilities management?

July 22nd 16:10 Cost Management 

UK businesses using facilities management cost reduction processes could be among those to be encouraged by a new review of the country's small business taxation system.

That is after the Chartered Institute of Taxation said the current system is too complex and takes up a disproportionate amount of small businesses' time.

Andrew Hubbard, immediate past president of the organisation, said the current tax climate for small firms is "very unstable" on account of the regularity at which it changes.

"We need to create stability so that someone setting up a small business knows what tax regime they are going to need for the next five years, and all around ease of operation because the burdens on small business in terms of running the tax system take up a disproportionate amount of time," he added.

The comments follow a government announcement that the newly-formed Office of Tax Simplification is set to conduct a review of small business taxes and propose new, simpler alternatives.
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