Tag Archives: declarations of interest

Welcome to my day – 30 January 2023: tax still shouldn’t be taxing…

By Mark Valladares | Mon 30th January 2023 - 7:30 am

I spent a chunk of my weekend completing my 2021/22 Self Assessment tax return. Yes, I know, “left it a bit late, didn’t you, Mark?”. Luckily, my tax return isn’t terribly complicated once I’ve found the required bits of information online and elsewhere.

Nadhim Zahawi appears to have had a rather more complex task or, should I say, his tax advisors. That’s partly a problem of his own creation – offshore trust funds aren’t obligatory – and partly the increasingly complex web of tax law in this country.

There is little doubt that, the more complex the tax system is, the more need there is for professional tax advisors and the more scope there is for creative uncertainty. The more you try to create opportunities in an effort to encourage what the Government of the day believes is desirable behaviour, the more you invite terribly clever people to find ways of taking advantage of the unintended consequences of those changes. People tend, often, to reduce their personal tax burden if they can. Wealthier people can pay to find the more obscure means of doing so, and the British legal and accounting professions are very, very good at delivering the desired outcome.