Leader - Taxpayers have rights as well
Governments, particularly on what used to be called the left, tend to overlook the real nature of taxation.
In all the talk about the uses to which the money will be put, politicians ignore the fact that they are talking about legalised theft.
People pay taxes whether they like it or not. The powers of the Inland Revenue to seize an individual’s money are far more draconian than those granted to almost any other arm of the state. Imagine the outcry if the police were empowered to seize the assets of suspects before they had even been charged.
Of course, most citizens accept the implicit contract that underlies the payment of tax. We pay taxes to live in a civilised society, protected from invaders by the armed forces, safe to walk the streets thanks to the forces of law and secure in the safety net of the health and social services.
To New Labour, tax is not just a necessity but a moral duty too. Avoiding payment of every last penny is a crime against the poor and the needy. Hence this week’s publication of the general anti-avoidance rule. The decision to restrict the GAAR to corporate taxpayers is welcome. The tone of the document is reasonable.
But the profession must be vigilant to ensure that the rights of those who are taxed are not sacrificed in the drive to stop avoidance.
The numbers you crunch tell a story. Your expertis...
26yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleHMRC sees the profit or loss made on buying and selling of exchange tokens as within the charge to Capital Gains Tax (CGT). Read More...
View articleThe recent IR35 case involving former Liverpool footballer and Sky Sports presenter, Phil Thompson, has drawn attention to the complexities and implic...
View articleFrom January 1, 2024, HMRC will implement new tax rules affecting individuals who sell items on platforms like Etsy, Depop, and Vinted. The new regula...
View articleHMRC reveal a small majority of people are soldiering a significant proportion of income and capital gains tax, following FOI request. Data has reigni...
View articleSteven Pinhey, technical officer at the Association of Taxation Technicians (ATT), considers how the rules on deductible expenses work in a social med...
View articleATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleThis was the fourth largest borrowing year since records began in 1993 Read More...
View articleATT technical officer, David Wright, provides an overview of the welcome relaxation to CGT provisions for separating couples looking to transfer asset...
View article