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Tax laws and tax loopholes

Britain is still a world leader. We have the most complicated and lengthy tax laws in the world. We wrestled this dubious crown from India in 2009.

Politicians pontificate about simplification but this just leads to reams of poorly-drafted tax legislation containing traps for the unwary.

Every new tax relief introduced is maximised by the well informed or well advised, to the surprise of our political masters. The proposed changes and climbdown on tax relief for childcare vouchers is a good example.

The only reason that changes were considered in the first place was because taxpayers had arranged their affairs, quite legally, to take advantage of a tax concession.

In my next blog, I’ll look at specific – and legitimate – tax-free perks that will help both employers and employees.

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