Katharine Arthur, head of private client at haysmacintyre, has noted that the appeals from the Treasury Committee to scrutinise the UK Government’s tax system are “long overdue”.
The UK’s tax system is an obstruction to economic vitality, creating compliance burdens, confusion, and disincentives to work or grow a business, as stated by the cross-party Committee of MPs in a recent report.
The Committee’s conclusion is that the Chancellor’s choice to dissolve the Office of Tax Simplification (OTS), an independent body that provides counsel on tax simplification, runs the risk of conveying that it is not a priority for the Government.
Harriett Baldwin, MP and chair of the Treasury Committee, said:
“Disbanding the office established to champion tax simplification risks signalling the Government is not serious about the task at hand.
Action needs to be taken, and public scrutiny of Government efforts is vital. That’s why we’re calling for the Government to report to our committee each year on the success of the Treasury’s tax simplification efforts.”
Arthur concurs, and states that closing the OTS looks like another “ill-conceived decision”.
“Leaving aside the revolving door of disastrous tax changes last year, the Government has made seemingly little progress towards simplifying the system.
Now it’s time to see whether the Government is ready to act.
If the last year in tax has taught us anything, it is that confusion does not breed confidence and that we are at a point where the system is buckling under its own weight, reform is nigh,”Well said!
Tax does have to be taxing.
Tax Investigation Insurance
Market leading tax fee protection insurance for businesses, sole traders and individuals. Protect yourself from accountancy fees in the event of an HMRC enquiry.
Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.
You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.
Tax Investigation Insurance is an insurance policy that will fully reimburse your accountant's (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.
A Solar Protect policy will enable your accountant (your tax return agent) to:
- Deal with any correspondence from HMRC
- Attend any meeting with HMRC
- Appeal to the First-tier Tribunal or Upper Tribunal
- Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
Please click here for details.
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"
Taxation is a burden on the Peasantry not the Rich.
ReplyDeleteYou don't have a Government it's a crime syndicate that enriches itself.
HMRC will be abolished in its current form very soon. There might be Vat on new goods being sold but no income tax. The IRS will be first and that's already online.