Tax – that’s too hard for us

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Accountancy Age reports that only 16% of executives in quoted companies think financial analysts employed by major brokers in the City really understand their companies. They say:

More than 80% of European listed companies think their performance isn't accurately reflected in their share price - and that analysts don't fully understand the fundamentals of their business.

If you're a tax executive I'd make that 100%. When I began work on 'Mind the Tax Gap' I spoke to a number of City institutions about their interest in tax. The blank-look response was universal. And the explanation similarly common:

That's too hard for us.

Nothing has changed since.

You'd have thought that for a few hundred thousand a year you'd have got someone who could get their head round the tax charge in a set of accounts. But I came to the only obvious conclusion: that's not true. That's too hard a way to make money.