The hyper efficient Hong Kong Tax code is the world’s shortest at 276 pages long. Meanwhile the UK tax code is the world’s longest at 17,000 pages. HMRC would have us believe that “tax doesn’t have to be taxing,“ but wading through, then understanding 17,000 pages of tightly packed script requires levels of tenacity, patience and mental acuity very few of us possess.
If you still submit your tax return on paper you only have until the end of the month, otherwise you must submit on line by 31 January. To submit on you’ll need a government gateway ID; these do not come through straight away. So, in other words, it’s already passed time to start planning the submission of your tax return. What do you have to do, how can you minimise your tax bill and many other taxing questions will be answered by chartered accountant Peter Allen of Beresfords Chartered Accountants who will be our guest on Friday. Don’t miss it!
Listen on Channel Radio from 1pm.