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Opinion – The Breakdown in Trust with HMRC

Speed Read: HMRC's move away from Adam Smith's four principles of taxation has resulted in a breakdown in trust between taxpayers and HMRC. At the end of yet another decade the UK tax regime is uncertain complex and uncompetitive. In recent times we are witnessing the introduction of ad hoc taxes; slow and ongoing reforms; the fleshing out of legislation by way of guidance; shifting costs to the taxpayer; and an increasingly unpredictable and litigious environment. HMRC faces a tough and real challenge — can they be trusted?
'Do you trust the Revenue?' is a question which is frequently directed at both corporations and individuals. In an ideal world the answer should be 'yes' especially where the fiscal regime is certain and predictable. When Adam Smith in his Wealth of Nations...

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