CIOT calls for small business tax reform
The Chartered Institute of Taxation (CIOT) is calling for small business tax reform in its 2009 Budget representations.
The CIOT welcomes the Government’s deferral of the proposed legislation on income shifting. It calls for a well thought out response to the issue and for small business tax to be looked at in the round as opposed to just one part of this complex area being addressed.
Ian Menzies-Conacher, Chairman of the CIOT’s Technical Committee, says: “Any attempt to legislate for income shifting should be limited to a simple set of rules, without creating additional burdens.”
The CIOT goes on to suggest the integration of National Insurance Contributions with income tax, or a move toward further alignment.
The 2009 Budget representations also call for a statutory residence test and welcome the Government’s commitment to a Taxpayers’ Charter.
– ENDS –
For press information contact Simon Goldie on 020 7245 4122 (direct line), 07879 497316 (mobile). Email sgoldie@ciot.org.uk
Notes to Editors
To read the full representations please click on this link –
http://www.tax.org.uk/attach.pl/7050/8341/2009BudgetRepstoHMRC%20final180708.pdf
-01.png){kind=spacer}