A recent recommendation by the Office of Tax Simplification was the issue of guidance packages for new businesses.
A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to ‘address long-standing concerns about the experience of smaller businesses’. The guidance could help new businesses around key stages in their life-cycle, such as upon set-up, registering with HMRC and when taking on members of staff. The report considers the business life-cycle, especially those starting up and provides recommendations in five areas:
providing simple step-by-step guidance about the key things a business needs to do in its early days to help things run smoothly
improving the operation of the PAYE system
implementation of HMRC’s Agents Strategy
improving the mechanics of the Corporation Tax return process
ensuring that tax changes are built on an understanding of business processes.
Until then, if you would like help with your taxes at any stage of your business life cycle, please do get in touch with us at firstname.lastname@example.org.