The Management of Tax Knowledge

Tax Doesn’t Have to be Taxing; But it is…

Low corporate tax knowledge is making the tax system inefficient, says new ACCA research Her Majesty’s Revenue and Customs (HMRC) spends a lot of time telling us that ‘tax doesn’t have to be taxing’. However, a three-year research project carried out for ACCA (the Association of Chartered Certified Accountants) by the Universities of Nottingham and Southampton – called The Management of Tax Knowledge – shows that there is a serious lack of understanding of the tax system amongst those in the corporate world responsible for making tax-decisions for their company. “There is little point in a tax code if key decision-makers aren’t sure how it works”, said ACCA’s Head of Taxation, Chas Roy-Chowdhury. “Tax knowledge and its shari... »