Tax regimes 'need to be more user-friendly for both businesses and individuals'

Date: 19th June 2009

A significant proportion of Britons currently lack a full awareness of taxation issues, with many unsure of what they are entitled to and how their money is used.

Research carried out by the Association of Chartered Certified Accountants (ACCA) ahead of the publication of its new paper, Tax Principles: From Adam Smith to Barack Obama, found that 70 per cent of those polled feel that taxation levels in the UK are currently too high in light of the services received.

Notably, just nine per cent of Britons stated that they were fully aware of how to take advantage of the various perks and tax breaks available to them, suggesting that many could stand to benefit from tax advice, while just 5.5 per cent of those questioned said that they completely understood how their money is used by local and central government.

Commenting on the findings, Chas Roy-Chowdhury, head of taxation at ACCA, said: "Central to our policy paper is the need for governments to ensure their tax systems are truly accountable and that people understand why they are paying their taxes.

"Legislation also needs to be clear - no more stealth taxes, no more unexplained tax hikes. Regimes need to be user friendly for both business and individuals alike."