The Ulster Society of Chartered Accountants Ireland has written to all Northern Ireland MPs to advise them of the concerns of the profession regarding proposed quarterly filing of return information for SMEs and smaller companies. There has also been a suggestion that income tax payment arrangements could also be moved to a quarterly basis.

Ulster Society Chairman Patrick Gallen advised MPs in advance of a parliamentary debate on tax for small businesses and the self-employed on 25 January 2016 that many Northern Ireland businesses are noting with some concern that fulfilling their routine tax obligations is becoming steadily more difficult. Chartered Accountants have an immediate concern that an increase in the frequency of reports to HM Revenue & Customs will eventually lead to an increase in the frequency of tax payments for small businesses and the self-employed. This could create serious cashflow difficulties for Northern Ireland business, and would be anti-competitive as it creates extra compliance costs and red tape.