2 thoughts on “The end of Tax Returns and start of ‘Digital Tax Accounts’

  1. At long last (over two centuries since Adam Smith’s ‘Cannons of Taxation’) will the government catch-up:

    The four Cannons of Taxation are:

    1. Equality – tax payments portionate to earnings [not quite there yet]
    2. Certainty – tax liabilities should be clear and certain [not until we get more Simplified Taxes or a simplified tax system]
    3. Convenience of payment – we are moving in the right direction, if we understood the concept the Chancellor has in mind
    4. Economy of collection – not too expensive to collect the tax [digitized accounts should help here]

    All in all 2 out of 4 ‘cannons’ addressed in the last budget.

    As fence sitters we would call it a 50:50 spilt…

    3resource on behalf of theMarketSoul

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