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Tax Tip

Plans for simpler personal tax rules. 18/11/11

In a statement the Government say they are committed to making the UK tax system more transparent and easier to use, and have this week set out details on a number of initiatives aimed at modernising the personal tax system.

They are seeking feedback on a number of ideas for reforming the current system, including plans to give every taxpayer online access to their tax records, a model that is already used in Denmark.

Under this system, existing information about incomes would be gathered from sources such as employers, banks, pension schemes and letting agencies and then added to the self assessment form before it is sent to the taxpayer.

David Gauke, the Exchequer Secretary, said:
“We plan to lift the lid on tax so that people understand how much they are paying, what their overall tax rate is, and what they should be paying, in the same way that the Government has lifted the lid on what they are paying for.”

Oliver Reeve of the Payroll Department of ABDS says:
“for a lot of people, the tax line on their pay slip is the only time they see just how much they're paying in tax.“

If you need any help and advice with your Payroll or Personal Tax returns, contact ABDS to discuss how we can help.
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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