The U.K. government shouldn’t rush a change to the tax year end date while other major administration changes are already underway, the Office of Tax Simplification warned Wednesday.
The government has said it may change the current April 5 date to either March 31 or Dec. 31. But that would “consume government resources” and complicate the implementation of other changes, such as creation of the single customer account initiative, the OTS said in a report.
- Changing the tax year end to Dec. 31 might also require changing the U.K.’s financial year, which currently ends March 31, it said.
- “We ...