BusinessPeople In BusinessTreasury struggle with Budget

Treasury struggle with Budget

Some would say that tax becomes ever more complicated,
making it harder and harder to understand precisely what is going on. Pah, says
the Treasury, what nonsense!

But the department itself had a bit of a blind spot during the
Budget.

The headline cut in the corporation tax rate was not
extended to

North Sea

oil companies in an
obscure move not mentioned, but only notified to the industry through a letter
to its trade organisation.

When TS asked the Treasury about it, the response was along
the lines of: ‘no, don’t think so, haven’t heard of that one.’ When the
official duly checked, lo and behold, the story was true. So let’s not hear any
of this nonsense about the tax system being simple and easy to understand,
shall we?

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