Comments on: A genuine tax simplification for micro-businesses http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/ Richard Murphy on tax and corporate accountability Thu, 28 Aug 2008 23:00:52 +0000 http://wordpress.org/?v=2.6 By: THE SMALL BUSINESS BLOG » Blog Archive » Alternative simple accounting for micro-businesses http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/#comment-3558 THE SMALL BUSINESS BLOG » Blog Archive » Alternative simple accounting for micro-businesses Wed, 29 Nov 2006 15:37:28 +0000 http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/#comment-3558 [...] http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses [...] [...] http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses [...]

]]> By: Richard Murphy http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/#comment-3498 Richard Murphy Tue, 28 Nov 2006 17:02:17 +0000 http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/#comment-3498 Emily Thanks for your note of support. I've tried this out on a number of micro-entrepreneurs now and they really like it. I genuinely feel this could be the winning combination Mike Truman and AccountingWEB are looking for. What does anyone else think? Richard Emily

Thanks for your note of support. I’ve tried this out on a number of micro-entrepreneurs now and they really like it. I genuinely feel this could be the winning combination Mike Truman and AccountingWEB are looking for.

What does anyone else think?

Richard

]]> By: Emily Coltman http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/#comment-3495 Emily Coltman Tue, 28 Nov 2006 16:18:29 +0000 http://www.taxresearch.org.uk/Blog/2006/11/27/a-genuine-tax-simplification-for-micro-businesses/#comment-3495 I like this. So there would be a requirement to keep sales records, and then a fixed rate deduction as a percentage of turnover, depending on what trade sector the business is in? Sounds very simple for everyone, and part of the beauty of it is, that there'd be no transitional arrangements as a business grows, same as for the VAT flat rate scheme. I do agree that it wouldn't be suitable for businesses that plan to grow - but for those that just want to tick along quietly and earn enough to run the family home, it sounds ideal. M I like this.

So there would be a requirement to keep sales records, and then a fixed rate deduction as a percentage of turnover, depending on what trade sector the business is in?

Sounds very simple for everyone, and part of the beauty of it is, that there’d be no transitional arrangements as a business grows, same as for the VAT flat rate scheme.

I do agree that it wouldn’t be suitable for businesses that plan to grow - but for those that just want to tick along quietly and earn enough to run the family home, it sounds ideal.

M

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