Office of Tax Simplification
The Office of Tax Simplification has recently published the results of a survey of small companies. One of the survey questions was:
“Which taxes do you feel confident with dealing with yourself and which would you prefer to leave to your accountant/tax adviser?”
76% of the surveyed respondents said they would rather leave corporation tax to their accountants than get to a position where they felt comfortable dealing with it themselves. By way of contrast, most of the surveyed respondents indicated that they felt confident dealing with PAYE, National Insurance and VAT themselves.
The taxes referred to in the question were, corporation tax, inheritance tax, capital gains tax, stamp duty, income tax, business rates, National Insurance and VAT. Which of these taxes do you feel most confident yourself and which do you feel least confident about dealing with yourself?