by Alison King
22:07 PM, 31st October 2017, About 5 years ago 26
Today I had to undiscombobulate my accountants who were in utter confusion over Section 24. Not only had they applied it to my 2016-17 tax return but they had calculated it wrongly too. Fortunately I spotted this and was able to point out the error of their ways, to much embarrassment on their part.
It doesn’t surprise me. The rules are so complicated as to defy belief.
If this has happened to me it will doubtless happen to others and not everyone is so vigilant when it comes to checking detail. Nor is everyone is as understanding and there is a lot of scope for mistakes leading to loss of reputation, loss of business, legal action and more. I can envisage small accountancy firms coming very unstuck over issues like this, not to mention the extra workload for HMRC in having to try and check it all. Tax should not be so complicated that it requires this much effort to work it out.Show Book a Tax Planning Consultation