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by LatteLazy 1264 days ago
In the UK, less than 10% of the population even file a tax return. For 90% of people tax is just taken at source. Unless you have a small business, rent out properties or work abroad, HMRC already knows what you needed to pay and get's it right 99% of the time and your employer/pension provider just withholds as required. It's always baffled me that so many rich countries don't operate like this...
1 comments

I do my own taxes on the UK, it is not complicated, but it would be everything a billion time easier if all brokerage accounts [1]and banks had a simple way to get all transactions in a tax year in a single csv file instead if having to do a billion clicks and having to parse dozens of pdf files!

Also can I have everything in a single unified gui?

[1] especially those barebone accounts used for employee stock grants.

That would be perfect. It would be so much better if they just sent you a form with a few numbers on. And the maths and format were the same irrespective of the firm. One from each of your brokers, add the numbers together, put onto tax return, submit and sleep soundly.
Heh.

The thing I find astonishing about the UK is the sheer number of tax-advantaged savings schemes. Half a dozen different types of pensions. Several different types of ISAs (tax-advantaged savings accounts). And we haven’t even mentioned the wonderful world of offshore bonds…