London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

Overly complex tax system is tripping up small companies

HMRC announced that it has collected an additional £737.3m from investigations into companies over tax avoidance and errors relating to employer compliance, with SME’s in particular being hit.

Such companies account for more than half of the additional tax collected in 2014/15 despite being responsible for only 11% of overall UK payroll while (to put this in context) larger businesses are responsible for 89% of payroll but less than half of additional payroll taxes and penalties.

It seems that much of the underpaid tax is due to genuine errors due to the complexity of the system.

Is it time to make life simpler for SME’s?



Date: 6th June, 2016
Author: Cathy Corns


Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.


Football #finance short-term cost control, profitability and sustainability @mercerhole Andy Turner sheds light on……

Lisa Spearman, Private Client Partner updates on 'Changes to Main Residence Relief from Capital Gains Tax'……



For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn