ACCA welcomes tax simplification proposals

News Article - 10 July 2008
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The Association of Chartered Certified Accountants (ACCA) has this week hailed recommendations by former chancellor Lord Howe to reform the UK's complex tax laws.

Lord Howe proposes setting up an Office of Tax Simplification - a new cross-party committee - to examine how current confusion surrounding corporate tax can be alleviated.

The ACCA welcomed the idea as "timely and practical". Allen Blewitt, the organisation's chief executive, said: "They are sensible measures that aim to tackle the unfairness and uncertainty which has bedevilled the UK's tax regime, especially in recent times."

He added a recent poll of members found today's tax arrangements "complicated and frustrating", a mood that has led to a lack of trust in the system among businesses.

Firms hoping to make sense of their finances could install accounting software to facilitate accounts management.

According to the ACCA, the UK's tax regime is currently bottom of the league table for tax fairness and transparency.

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