Source · Select Committees · Business and Trade Committee
Recommendation 12
12
Publish baseline assessment of SME tax compliance costs and aim to reduce by 25%.
Recommendation
The Government should publish a baseline assessment of SME administrative costs of complying with the tax system. The Government should aim to reduce the costs of complying with the tax system by 25% by the end of the Parliament, in line with its target to cut regulation. As a first 71 step, it should increase the roll out period for Making Tax Digital for income tax. It should also reduce the quarterly reporting requirements under Making Tax Digital. (Recommendation, Paragraph 56)