A Fylde accountant has called for more simplification of tax regulations to help businesses beat the downturn.
Tony Mills, Director at Cleveleys-based ma2 Chartered Accountants, was speaking after a series of cuts came into effect including a simplification of the ways firms can use assets to raise finance.
The cuts are part of the Government’s ongoing red tape challenge and so far 1,500 regulations have been identified for reform.
Other changes include deregulatory changes to building regulations including reducing administration and more consistent guidance and removal of regulations affecting the sale of goods. That includes items deemed as causing risk, such as Christmas crackers.
Tony Mills said: “These changes are overdue and will go some way to support our businesses. However reporting reform has far to go, for example, our tax code is one of the longest in the World and is unnecessarily complex.
“Many business owners find themselves spending onerous hours ensuring their business is compliant with overly complicated regulation. Ensuring this is done properly is paramount which is why all businesses should seek professional advice from a qualified accountant who will display the ICAEW or ACCA body approved certification.
“At a time of austerity our main focus should be on supporting business owners on driving increasing profitability and alleviating the pressure of superfluous and convoluted regulation.
“I look forward to seeing further deregulation and support for our pressured business owners who are critical to this country returning to growth.”