Government proposals for corporation tax reforms will affect every company in the country and small and medium sized enterprises (SMEs) have been warned not to neglect the opportunity to comment on changes that could have a big impact on their future.
According to Simon Littlejohns, tax partner with business advisers PKF, the reforms are likely to increase paperwork and red tape – without significantly increasing the tax take. Formal responses to the Government's proposals (66 questions in all) are required by 3 November but PKF has identified the nine key issues for SMEs so that busy business managers can register their views through a quick online survey. The survey results will be passed on to the Inland Revenue as part of the consultation process.
