New research undertaken by accounting solutions provider, CCH, to coincide with the launch of an updated version of the firm's British Tax Library, has revealed that some 84% of accountants in the UK feel that they have been under-informed by the government with regard to the Tax Law Rewrite (TLR) currently taking place.
The purpose of the Tax Law Rewrite is to translate the UK's complex tax laws - described variously by respondents as 'mediaeval', 'outdated', 'ambiguous', and 'tortuous'- into a more understandable format without changing the underlying meaning of the legislation. However, as a result of this initiative, some of the terminology familiar to accountants and other tax professionals is likely to disappear, a fact which has caused some concern.
According to the CCH survey, 60% of those questioned anticipated that the TLR will have a significant impact on the amount of time that they spend assessing and working with the tax law, with 3% suggesting that the immediate aftermath of the rewrite is likely to be a 'nightmare'.
Speaking following the publication of the research, CCH Information's director, Robert McKay observed that:
'Our research highlights that accountants are aware that the TLR will impact on their time in deciphering tax legislation.'
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment