Personal Taxes should be Fully Deducted at Source

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Personal Taxes should be Fully Deducted at Source

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By applying a little common sense it would be possible to do away with all Personal Tax Returns. Simply make sure that all personal income suffers a Final Tax Deduction at Source. We already have PAYE. Why not apply the same theory to all personal income. Need to tax interest ? Banks can hand over the tax and pay net interest to individuals. Income from shares ? Let the stockbroker pay over the tax on dividends/profits. And so on.

The massive burden of checking everyone's personal tax returns will be eliminated, making for a far more efficient Tax Dept.

Psychologically people will feel a lot better as all the income they receive will then be theirs to spend as they wish. No more tax to pay.

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