I've copied below an extract from John Whiting's lecture on tax simplification:
John opened his lecture by explaining that tax simplification should make it easier for taxpayers to meet their obligations, lessen errors and increase the public’s confidence and trust in the tax system. Simplification has strong links to Adam Smith's four canons of taxation (certainty/convenience/efficiency/equity).
It can be argued that under the NRCGT system, all four canons (or cannons) have badly misfired:
Certaintly:just review the NRCGT tribunal rulings and you will see there is no certainty.
Convenience:having to make two separate tax filings to report the same disposal certainly is not convenient especially if you are based in a Borneo rainforest.
Efficiency: it can't be efficient for HMRC staff to turn up at tribunal after tribunal and be bashed by the tribunal judges.
Equity-tell individuals who have paid NRCGT penalties that the system is equitable and they will suggest you identify the magic ingredient in Goochie's accountant's letter that lead to his penalties being cancelled.
Over 10,000 hits have been recorded on this thread in the last fortnight, but zero feedback has been left. I'd like to think it is because a coherent case for HMRC bods to thoroughly review the department's behaviour is being made, but perhaps everyone is just staying well clear of the nutter who regularly posts on the NRCGT return thread. Either way, I'd actively encourage you to contribute to the debate, especially if you can solve the Goochie NRCGT mystery.