Printers may be affected by moves to simplify tax system

It has been said owners of small business struggle with the complexity of the tax system.

Owners of small businesses, find the complexities of the tax system "almost insufferable", an expert has claimed.

Andrew Gotch, a fellow of the Chartered Institute of Taxation, said for this reason it is not surprising to hear a survey conducted by the Forum of Private Business showed 57 per cent of firm owners would be willing to pay more tax in exchange for a simplified system.

He stated the poll is an indication of "the level of desperation that small businesses feel" in regards to tax.

The specialist noted the Office of Tax Simplification could improve matters, but at the moment it is focusing on small, quick wins "rather than trying to achieve any radical restructuring of the tax administrative background".

Mr Gotch warned company owners to be careful what they wish for, as while it is easy to make things simpler, the government's financial situation means it is unlikely such moves would make it cost-effective to pay more tax.