Small businesses make a vital contribution to the UK economy. HMRC works alongside the Office of Tax Simplification (OTS) (Opens new window) to identify and make changes that will make the tax system easier for small businesses to understand and quicker and simpler to deal with. Making tax easier, quicker and simpler for small businesses was published at Budget 2012 and this sets out a number of HMRC initiatives being implemented.
The Admin Burden Advisory Board (ABAB) monitors HMRC’s progress towards delivering its commitments to improve the SME customer experience.
Better regulation takes account of all impacts and consequences and it only does what it is meant to do and no more. HMRC, as a taxing authority rather than a regulator, only regulates when necessary and it strives to simplify or deregulate wherever possible to minimise burdens on business and so reduce customer costs.
A tax information and impact note (TIIN) is published for tax policy changes at the point at which the policy design is final or near final. They are effectively a cost/benefit framework for developing a change, ensuring all impacts of that change are identified. They are informed by Consultation and a table of impacts is included in all consultation documents.