Current UK (and EU) tax legislation is vast and overcomplicated. When studying for tax exams a few years ago (before a change of career) we were required to carry around 5 thick books of legislation and each year the amount of regulations grows still further. Whilst this may have the benefit of creating a need for tax advisers, it means that the everyday person cannot easily work out their own tax position unless they have the money to pay advisers. The complexity of the legislation also enables tax consultants to come up with loopholes and means of tax avoidance for wealthy clients that HMRC do not have the resources to counter.

My idea is therefore to consolidate and simplify tax legislation, grouping it in an orderly manner (as was started by ITEPA for income tax), repealing unnecessary legislation, and putting it into everyday English that doesn’t require a great deal of study to understand.

Why is this idea important?

My idea is important because it will create a simplified tax system, making life easier for all those involved in the tax system and reducing unnecessary bureaucracy for companies and individuals trying to comply with tax legislation they do not fully understand and risking penalties for non compliance. It will also avoid others devising complex schemes to avoid tax.

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