Tax Expert Calls for Simplification of Taxation System
2 mins
The UK’s taxation system is in dire need of urgent and extensive simplification, warned one of the UK’s leading tax experts today. David Redfern, director of DSR Tax Refunds, spoke out as criticism mounted regarding the increasing levels of convolution within HMRC’s tax legislation, which are making it increasingly difficult for taxpayers to follow.
Criticism of the increasing complexities of HMRC legislation has mounted in recent months, with HMRC losing an estimated £5bn in revenue through legal interpretations of taxation legislation, far more than is lost through avoidance and non-compliance. Redfern today urged for wide-reaching reform of the UK’s taxation legislation, stating that “as layer upon layer of additional legislation is added annually, it becomes harder for the average taxpayer to navigate these complexities without expert help. Thanks to IR35 and HMRC’s CEST tool, thousands of freelancers are finding themselves unwittingly pitted against HMRC, despite their best efforts to remain on the right side of the law. Add this to the difficulties surrounding changes to Stamp Duty, Capital Gains Tax, Inheritance Tax and it becomes clear that our whole taxation system needs overhauling to bring it up to date”. He added that much of the UK’s taxation legislation is now becoming outdated considering changes in technology, working practices and societal shifts.
Redfern noted that changes made annually in the budget add to the intricacy of taxation legislation, stating that “each year the government makes changes to the tax system, which tend to be added in a disorganised manner to the legislation that already exists and now the system is starting to falter. With forthcoming changes to property tax looming, as well as the difficulties that many are already experiencing – whether through self-employment or because they are dealing with a loved one’s will – thousands of taxpayers will find that they lose out due to a lack of expert advice. Whilst the government’s intention to reform Inheritance Tax legislation is welcome, it should be viewed as the initial step of a whole overhaul”.
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About DSR Tax Refunds Ltd
DSR Tax Refunds Ltd (company registration 12541357) are a firm of tax rebate specialists serving clients nationwide. DSR Tax Refunds are tax preparation experts who specialise in identifying potential allowable expenses for tax rebates for clients. Their specialist team can help employed and self-employed subcontractors with all relevant paperwork to ensure their claim is handled in an accurate and efficient manner.
For more about DSR Tax Refunds, visit https://tax-refunds.co.uk/
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DSR Tax Refunds Ltd
Company Registration: 12541357
Registered Office: Suite 637, 109 Vernon House, Friar Lane, Nottingham, NG1 6DQ