The Telegraph reports that the Chartered Institute of Taxation (CIOT), in its formal submission to HMRC, is calling for the Government to "tear up" proposed legislation aimed penalising "deliberate wrongdoing" by tax agents and start again.
The submission is in response to an HMRC consultation paper. CIOT are concerned that the legislation in its present form would lead to "absurd outcomes", with innocent advisers and even HMRC staff being held guilty and facing a £5K fine.
I wonder if whoever wins the next election, given how broke the country is, will listen?
Tax does have to be taxing.
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