The Chancellor wrote to the Office of Tax Simplification to commission a review into ‘the life of a small business’, focusing particularly on businesses’ tax obligations.
He acknowledged that ‘many small businesses find it complex and burdensome to fully understand their tax obligations’ and asked for proposals to simplify the tax-related issues of small businesses.
More information can be found here.
The OTS has since published a document detailing the scope of the review. That can be accessed here.