BHA Member Adam Fox-Edwards, Owner of Arundell Arms Hotel and Managing Director of Devon Hampers, on Tuesday 6 September provided oral evidence to the Treasury Select Committee on the digitalisation of the UK’s tax system.
The session is part of a wider inquiry into how tax policy is made, how tax collection is administered and how to address the vulnerability of the tax base. It is primarily looking into whether the tax system is fit for purpose for the 21st Century.
Adam discussed how the process of digitalising HM Revenue and Customers may not help small businesses which deal in cash and argued that quarterly returns should be an optional choice for businesses. He explained how a digital tax system may not simplify the process and highlighted that businesses would have to pay additional costs for new software. Adam supported the idea of a pilot scheme which would enable businesses to test the new digital system before a national rollout.
The session concluded that the UK’s tax system needs to be simplified and in order to work effectively any new digital system must be fully integrated.
• Mr Bill Dodwell, Head of Tax Policy at Deloitte
• Ms Cara Bendon, Founder of Cara Bendon Brand
• Mr Toby Parkins, Founder and Director of Headforwards
To watch the Select Committee appearance please click here.