ACCA calls for tax policy board to be established

Chas-Roy Chowdhury calls for Gordon Brown to establish a tax board that would have a role similar to that of the MPC, reacting to economic conditions in setting tax rates

Written by David Jetuah

Accountancy Age, 13 Jul 2007

ACCA's tax chief has challenged Gordon Brown to set up a panel of experts that would have responsibility for setting the UK's tax rate.

In a column in the Daily Mail, Chas Roy-Chowdhury said that a tax board should be set up, which would have a similar mandate to that of the Monetary Policy Committee.

ACCA's head of taxation believes the move will give a greater insight into the complexities of setting tax rates and provide greater transparency.

Roy-Chowdhury said: 'With a TPC, we believe tax policy decisions would, like the MPC, be more effective, open, accountable and free from short-term political manipulation.'

He added: 'Because tax is complex, it regularly confounds personal and business tax payers; from small firms to large businesses. Successive Budgets and subsequent finance bills are pulling the tax system along the path to even greater complexity.'