I’m glad to hear that The Institute for Chartered Accountants holds strong reservations about new proposals by the Government to be included in the next Finance Bill.

The Office of Tax Simplification (no, not many will have heard of them) came up last year with a straight forward recommendation for uncomplicated ‘cash basis’ accounting, designed to ease the tax burden for small companies who were not incorporated and had receipts up to £30,000. A good idea.

‘The so called—simpler tax rules for small companies—is so poorly thought through that I certainly will not be recommending it to our clients unless strongly amended.’
Vince Blaeford, Senior Partner, Blaeford Gordon.