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The House of Lords has added its voice to the campaign to simplify the UKs corporate tax planning measures.
The comments come in response to the tax mitigation measures, in the latest budget, by the chancellor of the exchequer and incoming prime minister, Gordon Brown.
The House of Lords Economic Affairs Committee said: "It is undeniable that the present tax system is highly complex.
"Simplification is essential if costs for businesses are to be reduced, greater certainty achieved, and the UK made more attractive to mobile international businesses.
"We recommend that a more determined and consistent attempt at simplification be made… what we see in this Finance Bill is a very modest step and more could be done."
Mr Browns revision of business tax measures included cutting the main rate of corporate tax by two per cent in 2008 and extending the definition of an SME so more companies would qualify for a higher tax credit rate.
However, many in the business community were unimpressed by the move.
As reported by Tax-news.com, Ashley Greenbank, speaking for the Law Society of England and Wales, emphasised: "We think that any claims to simplification that there have been over the last few years, perhaps particularly in relation to the business tax package, is a joke."
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