Tax system ‘to be simplified to encourage investment’
The Government this week announced that the UK tax law is to be simplified to help business and attract foreign investment.
The Chancellor of the Exchequer, George Osborne said that Britain had “one of the most complex and opaque tax codes in the world” and is setting up an Office for Tax Simplification to streamline the 11,000-page tax code.
Speaking about how Liquid users will benefit with the introduction of the new tax system, Liquid’s MD, Matt Holmes said:
“Being web-based, Liquid’s software is automatically updated with the latest tax and VAT changes from HMRC, so Liquid users don’t need to do anything once the changes have been implemented. Liquid will change the software automatically to comply with the new regulations when they come in.”
A news story published by the BBC explains the tax system changes that were announced on Tuesday. Click on the link below to read more.