Author Topic: Very Taxing  (Read 568 times)

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Offline Mart

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Very Taxing
« on: September 04, 2010, 08:12:04 PM »
Politicians dreams and reality, compare and contrast.

Mr Osborne said his new Office for Tax Simplification will help businesses and individuals negotiate a "complicated and opaque" process.

The OTS will have the task of making the 11,000-page tax code both shorter and simpler.

Speaking at the Treasury, Mr Osborne said: "We have one of the most complicated and opaque tax codes in the developed world - it's got more complicated and more opaque in the last 10 years.

"It is a spaghetti bowl of reliefs, exemptions and allowances which makes our tax system less competitive than it should be.

"I want to create a simpler tax code, a more competitive tax code which says to the world that Britain is open for business."

The new office will also be asked to study around 400 tax reliefs to see how many can be removed, both to simplify the system and fund tax cuts elsewhere.

Vote winning aspirational pop speak.

Over the next few months, almost six million people will be told they have paid the wrong amount of income tax.

It is thought a problem with the Pay As You Earn (PAYE) computer system means 1.4 million workers have underpaid.

They will have to fork out an additional payment of around £1,500 each, which will be taken out of their pay packets next year.

With an average of £1,428 being demanded, those affected by underpayments could be more than £100 a month worse off while the cash is clawed back.

But for nearly four million people it will be good news when they find out they are due a refund.

With a total of £1.8bn to be handed out, each could receive an average rebate of £418.

The first 45,000 letters from HM Revenue and Customs are expected to arrive on Tuesday with the rest due before Christmas.

Reality. Could be a cunning wheeze to address our current fiscal 'challenges' that we are all in together. Nice to HM Revenue can afford sentient computer systems that can develop problems all on their own. If I could be arsed I'd find out how much it cost.

Sometimes I think you have to march right in and demand your rights, even if you don’t know what your rights are, or who the person is you’re talking to. Then, on the way out, slam the door.