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Tax planning may go down this year with the news that 2007 has seen a decrease in the level of legislation governing this area, according to reports.
The 2007 Finance Act contains just 309 pages in 2007 compared to 506 in 2006 - something which accountants said was a direct response by the Treasury regarding the increasing level of tax mitigation needed.
Ian Young, ICAEW tax faculty technical manager, told the FT: "We welcome the decline in the number of pages in the Finance Act and hope that this is the start of a trend to simplify the tax system."
"In the last 12 months, they have been very conscious that large business has been fed up with the complexity they have to cope with."
The Institute of Chartered Accountants in England and Wales said concerns remained as the average amount of pages in this decades finance acts is three times greater than in the 1980s.
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