UK tax law "is deeply flawed"

Wednesday, May 19th 2010

Changes to the way tax law is created could occur under the new president of the Chartered Institute of Taxation.

Vincent Oratore wishes to reform this system over the next year, he revealed upon his appointment yesterday (May 18th).

"The way tax law is developed and implemented in the UK is deeply flawed," Mr Oratore argued.

Part of this is due to the lack of time parliament has look at the affects any alterations will have, prior to their inception, he continued.

Mr Oratore gave the example of the pre-election Finance Bill, which he said was "rushed" and only had three hours of debate in the House of Commons.

And the new president hopes governmental ministers will enable reforms to go ahead.

Liberal Democrat and Conservative MPs are now seated in parliament, as part of the coalition government,

Mr Oratore said the two sides would both have to be "sympathetic" to the changes due to be introduced.