Make small business tax less taxing says pressure group

   

The Forum of Private Business (FPB) is calling on MP’s to lift the burden of confusing and time-consuming tax returns.

Chief Executive of the FPB Nick Goulding said “It’s time to make tax returns less taxing. Our research shows that small business is left spending valuable time completing forms that they find confusing and over-complicated.

The FPB’s league table of taxing forms points to P35’s, Self Assessment, VAT returns and expenses and benefits as just some of the areas where we need to simplify administration.”

Mr Goulding spoke out as the House of Lords Economic Affairs Sub-Committee examines the implications for tax administration following the Budget.

Massive impact

“The impact on our members is twofold, they are already over taxed but they also have to deal with the implications should the complicated nature of their tax administration lead to mistakes,“ he added.

Mr Goulding believes the Government has been slow to act. “One thing is clear, that not enough is being done to help small businesses understand what is required of them when it comes to tax.”

FPB member Bob Veness of Edward, Payne and Veness Estate Agents in South Croydon has felt the burden of tax administration first hand. He said “It’s a pain in the neck, as with everything the Government does it’s surrounded by red tape and bureaucracy. I leave it to other people who I could be employing in more fruitful exercises rather than pushing around pieces of paper.”

Mr Goulding believes attempts to speed up tax administration could go further. “Even online services designed to ease the burden and provide advice for tax payers are still difficult to comprehend,” he said.