ICAS is calling for the next government to ‘get serious’ on simplifying the lengthy and overly-complex UK tax code in order to reduce tax avoidance and says the next government should ensure the Office of Tax Simplification (OTS) is properly resourced to continue its tax simplification work
The overhaul of the UK’s 20,000-plus pages of tax code is a key plank of the institute’s election manifesto launched at Westminster today.
Anton Colella, ICAS chief executive, said: ‘The time has now come for the next government to draw a line in the sand and get serious about simplifying Britain’s tax laws. Every political party is talking about tax avoidance, but one important element that lies in their hands is simplifying Britain’s tax code. This will bring much needed clarity to the grey areas of avoidance.’
Colella said that no administration so far has addressed the problem and warned: ‘The next government must stop tinkering by adding yet more reliefs and start tackling the complexity of it all.’
The ICAS manifesto ‘Counting on Change’ for the 2015 general election calls for a range of measures to build a more sustainable economy for the future, including wider availability of finance for SMEs and a pensions system that will endure for the long term. The institute also wants to see better protection for consumers of accountancy services and an end to what it calls ‘the anomaly of regulated and non-regulated accountants’.
The manifesto was launched at an ICAS event to debate tax and pension issues with guest speakers including pensions minister Stephen Webb, who warned the audience that people must be cautious when reviewing their pensions in light of the new drawdown rules for plus 55s.
The ICAS manifesto is here: http://icas.org.uk/manifesto/
