Just how complicated is the UK tax system? Well, a leading tax information publisher (Lexis Nexis) says its famous Yellow Tax Handbook (which basically contains all the UK’s tax legislation) has more than doubled in size from under 5,000 pages in 1997 (when the Labour government came into power) to a staggering 12,000 pages today!! And that doesn’t include hundreds of tax cases and Tax Tribunal decisions, which also affect the interpretation of UK tax law.
This is just one alarming illustration of the increasing complexity of the UK tax system. Even us full time tax professionals find it hard to keep up. No wonder so many of our clients say they find the tax rules completely baffling. In our experience very few Tax Inspectors have a thorough working knowledge of the key aspects of the law they rely on: and we frequently find them misunderstanding and misinterpreting the rules and wrongly accusing clients of owing tax – and then trying to charge tax geared penalties on top as well! That’s why so many businesses undergoing a tax enquiry use experienced, qualified tax professionals like Lynam Tax Enquiry Experts.
What does it mean to me?
If you feel daunted by the tax rules and think a tax officer is treating you unfairly then it may be down to his ignorance, lack of training or simple misunderstanding of very complicated rules. Experienced tax advisers like Lynam Tax experts can help the tax inspector understand the law and frequently this will reduce your tax bill.
If you’re subject to a worrying Tax Enquiry or Inspection or you haven’t declared all your income or gains and need to discuss this with a sympathetic, experienced professional, then:
For a free, private, no obligation consultation, call Paul Lynam today on 0845 643 9997