Taxed into oblivion.
Feisty lot over at the Chartered Institute of Taxation.
Back in May we reported how the CIoT’s then-president John Andrews said that the introduction of a general anti-avoidance rule would be like handing an arsenal of nuclear warheads to the Inland revenue. Now his successor Keith Daniels accuses Somerset House of “psychological warfare against the tax profession. We are now in a new, aggressive era,” he warns, after the Revenue knocked back a clutch of useful CIoT recommendations. Sounds like there’s no point worrying about Y2K: the CIoT seems to think that the Revenue will have annihilated half of us by then and turned the other half into gibbering wrecks.
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