The UK’s SMEs want to see the tax year end moved to 31 December, which they say will help simplify the system and would also bring the UK in line with global rules

The Office of Tax Simplification is currently looking at moving the year end to either the end of the calendar year or the end of March. 

Accountancy firm BDO has now asked 500 SMEs what they would prefer, and a whopping 91% support the idea of moving the date. However, this was accompanied by a call for a transitional approach, with long deadlines!