This year’s budget – the small print: more pages than ever before
The budget (The Finance Bill) received Royal Assent on 17 July 2012 and has become the Finance Act 2012.
It is the longest Finance Act ever and is larger than the Finance Acts in the whole of the 1950s – this is 10 years. It is also 5 times as long as the average Finance Act in the 1970s and more than twice as long as the Finance Act in the 1990s.
I am sure you are all comforted by the fact that Office of Tax Simplification created by the government has produced independent advice on simplifying the UK tax system so I can only add to my previous observation: Tax avoidance is here to stay because the more complex the tax system the greater the opportunities.
Allow me to provide one simple marketing comment: if you want steering through the ever growing mysteries of the UK system talk to an AIMS Accountant