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No more Autumn Statement tax changes, pleas pensions minister

Chancellors need to think twice before introducing changes to tax in their Autumn Statements to provide a more straightforward and efficient tax code, says Steve Webb, the pensions minister.

The Lib Dem MP spoke at an event staged to explain ICAS’ (Institute of Chartered Accountants Scotland) manifesto for the general election. He described the Autumn Statement as a secondary budget leading to a more complex and unstable tax code.

He said that there are too many changes being introduced, and pointed out that with the Autumn Statement taking place in December, tax changes effectively occur twice within a 13-week period, with a single Finance Bill. Tax changes being limited to the confines of the budget, he believes, is a more sensible approach.

Anthony Colella, chief executive of the Scottish organisation, emphasised the need for a smaller tax code than the thousands of pages it currently occupies.

He commented:

“The next government must stop tinkering by adding yet more reliefs and start tackling the complexity of it all.

“All governments talk about simplifying taxes. The problem is that none have tackled the issue head on. We believe the next government must put action ahead of words in the public interest.”

Businesses would benefit from a more straightforward tax code, and it can certainly help them when it comes to filing their tax return. Any errors in a return can lead to unnecessary administration, which is why, whether simplified or not, an accountant in the Wirral is always a sensible option to make life easier for business owners.

Posted by Mark
April 10, 2015
Tax

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