The urgency follows HMRC publishing its latest estimate of the tax gap which shows the difference between tax receipts and the amount it estimates it should have received.
According to the data, the tax gap now stands at 5.3%, and attributes 43% of the gap to small businesses, while their medium and large counterparts account for just 14% and 17% respectively.
Jessica McLellan, tax risk and dispute resolution partner, Wilson Wright, said: “Many small businesses rely on smaller advisors, are only required to file abridged or micro-entity accounts and do not have in-house financial knowledge.
“Non-statutory clearances rely heavily on using the expertise of larger advisory firms and are mostly used for complex technical transactions. HMRC relies on self-assessment – file now and they will check later.”
She added: “HMRC should reintroduce a more accessible route for small and medium taxpayers or their advisors to highlight areas of genuine uncertainty – in the guidance and practically – and have an open discussion with HMRC about how to get the treatment right.”