ACCA Urge Government To Simplify Latest Finance Bill

Thu, 03 Apr 2008

The Association of Chartered Certified Accountants (ACCA) has claimed that the government's new finance bill is in desperate need of simplification.

The UK accountancy body has argued that the bill, which currently has 1,148 pages of explanatory notes for a 440-page document, needs to be made clearer and easier to understand for banking and finance employees .

Chas Roy-Chowdury, head of taxation at the ACCA, complained that tax policy becomes more complex each year and said the latest revision is too "bulky".

Speaking to tax website Tax-News.com, he highlighted a tax policy committee in the style of the Bank of England's monetary policy committee would be ideal in helping to eradicate such problems in the future.

"Such a body would make for an efficient UK tax system - one which is stable, certain, simple and fair," said Mr Roy-Chowdhury.

Last month saw the introduction of an ethics module into the ACCA’s programme for people training for accountancy jobs, aimed at improving professional standards in the sector, the group claimed.
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