Tolley’s Yellow Tax Handbook Increases by 150% Under the Labour Government
LexisNexis has announced the launch of the 2009 edition of its authoritative tax guide, Tolley’s Yellow Tax Handbook. Over the last 12 years, the annual guide has more than doubled in size, highlighting the growing complexity of the UK tax system and the impact of the government’s recent attempts to introduce recession busting legislation.
The 2009 edition runs to 11,520 pages over four volumes. The UK now has the longest tax code in the world, creating numerous problems of interpretation, understanding, and locating legislation. This year alone the Corporation Tax Act adds a substantial quantity of pages to the code, and makes interpreting legislation more difficult than ever.
LexisNexis tax expert Mike Truman says: “The complexity of the UK tax system has been increasing the burden of compliance on businesses and individuals alike for many years. Although initially Alastair Darling looked as if he might bring simplification to the system as Chancellor, it seems to have been a false dawn, and we have seen little evidence of the tide of legislation ebbing.”