It seems the taxman can’t seem to get much right nowadays, whether it be hunting down tax evasion or making it easier for smaller businesses to file taxes.
Review Period: May 2016
There seems to be no end to the row caused between the Government and accounting reforms, heedless of the injury it’s causing the industry at large.
I’m not here to say that tax evasion isn’t a problem in the UK right now, but HMRC is going the wrong way about it – and I’m not the only one that thinks so.
Is it just me or is there a major double standard when it comes to being punished for tax avoidance in this country?
The accountancy sector is growing, whether it’s firms either looking for more clients or clients looking for more accountants!
So here it is, plain as day: there’s way too much tax avoidance going on right now, but much of it is coming from within the Government if you can believe it!
It’s tough being an accountant these days in the UK – and it doesn’t help that accountancy firms seem to find themselves in serious hot water all too easily.
It’s good news for the accountancy sector, as more and more reports are rolling in about how the next generation of accountants are launching their careers.
While Scotland’s finance secretary says that anyone purchasing a property in the country that costs less than £325,000 will benefit from a new tax scheme, the new so-called ‘mansion tax’ has been criticised by financial experts for raising the price on the most expensive properties in Scotland, it was recently reported.
HMRC has increased the amount of tax revenue it collects considerably over the last five years, but it could have brought in even more if it hadn’t reduced the number of people working in its compliance and enforcement teams.