TaxCorporate TaxFinance Act trimmed as Treasury strives for simplicity

Finance Act trimmed as Treasury strives for simplicity

Finance Act for 2007 39% shorter than previous year's legislation

Cries from the profession for a simpler tax system appear to have met with
some sympathy as figures compiled by the ICAEW revealed that this year’s Finance
Act is noticeably shorter than previous years.

According to the ICAEW, the 2007 act is only 309 pages long as compared to
506 pages in 2006, a 39% reduction.

‘We welcome the decline in the number of pages in the Finance Act and hope
that this is the start of a trend to simplify the tax system,’ Ian Young, ICAEW
technical manager said in the FT.

The reduction in page numbers follows complaints from business in particular
that the UK tax system was becoming to complex and onerous to negotiate.

Further reading:

Company law simplification ‘may harm public and
investors’

Lord says finance bill has failed to simplify tax
system

Tax advisers must help taxpayers ‘understand
obligations’

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

1w Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

1w Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2w Alia Shoaib, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

1m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

2m Emma Rawson
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3w Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3w Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3w Austin Clark, Reporter