Friday 26 April 2013

A ban on external accountants working inside government

BBC News reports:


A ban on external accountants working inside government, to stop them telling clients about tax loopholes they have found, has been urged by MPs.

To Labour MPs it seems that wherever there's a problem, a ban is the answer.

As usual, their scheme is not only illiberal and heavy-handed, but doomed to failure. As long as there are loopholes, accountants will find them and assist their clients in exploiting them.

The obvious answer is to simplify the tax code to the point that nobody needs tax accountants.

Abolishing corporation tax would be a good start.

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