A new report by the Office of Tax Simplification (OTS) has concluded that the UK’s PAYE system has become a “significant” burden on small businesses and needs to be reviewed.

The report recommends that HMRC should make it easier for accountants and tax advisers to deal with the tax authorities on behalf of small companies and that it should develop systems making it simple for such companies to calculate and pay corporation tax liabilities online.

The full report, which was commissioned by the Chancellor, can be read here.