Some small business owners are so frustrated with the complexity of the UK tax system that they would pay more just to see it simplified, new research has found.
More than half (57 per cent) of business owners surveyed by the Forum of Private Business said they would be willing to pay more tax in exchange for a simplified system, providing the system led to greater rewards.
Meanwhile, 50 per cent said they would be prepared to pay more under a simplified system if that system cut down on tax avoidance, among their competitors.
And 45 per cent of business owners on the Forum’s Tax and Budget member panel said they would tolerate a higher tax bill under a simplified system if it was accompanied by a general reduction in legislative red tape.
The findings come after the Coalition Government announced the creation of the Office for Tax Simplification last summer.