Lords slam tax laws
A House of Lords select committee has slammed the over-complexity of UK tax law and called for greater cosultation with those that will be affected by changes to the tax system.
The committee, which was drafted into study this year’s finance bill, commends the government for its clamp down on tax avoidance but criticises some aspects of the avoidance disclosure regulations, the new tax on small company dividends, the extension of stamp duty land tax to partnerships and the introduction of strip stamps on bottles of spirits.
‘We are not convinced that the legislation as it stands has been sufficiently thought through or exposed for serious consultation with those who will have to deal with its consequences,’ said the House of Lords select committee on economic affairs.