Tax system to be simplified for small firms
Chancellor George Osborne has launched the Office of Tax Simplification (OTS), a new body which he claims will "simplify the UK tax system with a focus on small businesses".
The OTS will be tasked with reducing the tax burden on British businesses, as well as streamlining the British tax code, which currently stretches to 11,000 pages long. Chris Gorman, spokesperson for the Forum of Private Business (FPB), told BAD News that there is huge demand for reform of the tax system, which is a cause of "frustration, confusion and expense" for small firms.
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