Accountants, PwC’s annual CEO survey results show that 73 per cent of UK bosses believe the present tax system is unfit for the 21st century, with a similar number arguing that any efforts to reform it will be in vain.
However, freelancer trade body, the PCG, says spare a thought for the one-man business struggling to cope.
Chris Bryce, CEO of PCG, said: “We wholeheartedly agree with big businesses when they say that the system is not fit for purpose. Independent professionals face a taxation system mired in red tape and what’s more, they do so without the huge resources bigger businesses can devote to coping with it.
“The way we choose to work and do business is changing. There are now 1,500 people choosing to go freelance every week in Britain and the UK’s 19th century tax system needs to be rewritten for the 21st century way of working.
“It is vital for all businesses, particularly independent professionals, that they are not shackled by a taxation system designed for a world of business that simply no longer exists.”
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Susie Hughes © Shout99 2014