Simpler tax return
Date published: 11 April 2012
HMRC has launched a consultation into proposals to make tax returns simpler for small businesses with turnovers of up to £77,000.
If implemented, this voluntary scheme for smaller businesses would pay tax on the basis of the cash coming in and out of a business.
Businesses will still be able to use the existing system, however, if they choose.
The Government is asking for responses to this consultation.
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