Strong opposition is growing among small commerce owners to government proposals for quarterly tax returns
A tall shakeup of the tax system might be on the way for small businesses in the UK. Instead of an annual tax return after each financial year,the government wants to introduce a quarterly system, forcing the smallest commerce owners, and like me,to find the time to go through and update their books four times per year and report to HMRC.[br]HMRC claims many taxpayers possess told them they don’t want to wait until the end of the tax year to know how much tax is due. Yet I doubt many of the 4.5 million self-employed and small commerce owners in the UK are actively seeking an increase in the amount of red tape they possess to wade through.
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Source: theguardian.com