The Chartered Institute of Taxation says the UK tax code has reached the point’where there is a danger of serious malfunctions in the operation of the tax system’.
Tax authorities and taxpayers are finding it increasingly difficulty to meet their obligations as a result, according to the CIoT.
Vincent Oratore, chairman of the CIOT’s Technical Committee, said: ‘We are aware of the work on simplification which is already being done in this area but feel that it is not going far enough.’
The institute recommends next year’s Budget concentrates on ‘reviewing, simplifying and consolidating existing tax legislation’.
It also wants the chancellor to commit himself to ensuring new policies and legislation are drafted with simplification in mind.
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