In a review of measures in the 558-page Finance Bill currently being studied by an all-party group of MPs, the institute is urging MPs that it is time to question the increasingly complicated taxation system. It says that this could be done by a Royal Commission, a group of worthy individuals who study an issue and make recommendations to the government.
Heather Self, chairman of the institute’s technical committee, said: ‘The institute is increasingly worried about the additional administrative burdens that are being placed on taxpayers by the never-ending stream of new tax measures. This year’s Finance Bill, with its 558 pages of legislation, will make matters even worse.’
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals