Can we ever trust the UK tax system again?
Ongoing problems with the UK taxation system have become something of a massive issue for the UK population who are now unsure as to whether they have underpaid, overpaid or potentially paid the correct tax over the last few years. Let alone the issue of taxation payments in the past there is a potential problem awaiting many this year as the revenue has already flagged the fact that many people are likely to have received the incorrect tax code for the current tax year for their specific situation. As a consequence, we could well be in a similar situation next year!
A number of experts in the field of taxation are now beginning to question the overall UK tax system and whether it is "fit for purpose". There's also the potential for those informed they have underpaid their taxes in recent years to use a relatively unknown loophole in revenue regulations which could actually force the government to write off individual debts. All in all this is one of the worst periods for the UK taxation office in living history and there are growing concerns that more problems may well be uncovered in the short to medium term.
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