Accountants hit out at tax plans
Published Date: 21 February 2009
SCOTLAND'S accountants yesterday called for the UK government to scrap plans to "simplify" the tax system.
The Institute of Chartered Accountants of Scotland (Icas) said the changes would place extra burden on firms.
Under Treasury proposals, small firms would base their accounts on tax rules rather than accounting principles, or could be taxed by reference to cash flows rather than profits.
ICAS said the measures did not simplify the system and, while helping HM Revenue & Customs, would make company accounts less informative for other users.
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