Wednesday, February 11, 2009

Tax returns - tax deductible

I might have to do a tax return this year. The UK has a really over complex tax system, and people usually employ an accountant to get things done. The thing is you then have to spend some extra money to do this.

Faced with this prospect I had a good idea. Why not make accountants fees tax deductible? That way the government would have to regulate accountants from charging too much. There would be a motivation for the government to reduce tax complexity - because simpler tax returns can be filed quicker and cost less. The bonus for me is I do not have to pay for the return I pay out of my tax for it.

A winner all round I think - but the chances of that happening in the UK?

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