Cost of tax returns hits record high

The cost of filling in tax returns for businesses and individuals is expected to hit record levels this month after tax office closures and HMRC cutbacks left taxpayers shouldering an ever-increasing burden say Harris & Co accountants Northampton. HMRC figures revealed that by the middle of last year the cost to taxpayers of filing tax returns had risen by £51m compared to the same point in 2013. The rise is partially attributable to an increase in the number of individual taxpayers hiring chartered accountants to carry out self-assessment work because tax rules have become more and more complex - the annual Budget which stes out the tax rules has soared from 2000 pages in 1997 to 12000 pages in 2014. Meanwhile, with the deadline for tax returns looming at the end of January, HMRC has so far only received 6m of the 11m returns it expects to be filed.