The Treasury has dismissed argument for a ‘flat tax’ – according to
information obtained by the Financial Times.
Papers released under the Freedom of Information Act suggest the Treasury is
not keen on the idea of a simplified tax system comprising the same rate of tax
on all income.
The move would not necessarily increase compliance, nor would it be
necessarily progressive, the discussion paper said. Evidence on increased
compliance was ‘at best mixed’, and suggestions that all would gain from a
trickle down effect of the tax system required ‘heroic assumptions,’ the
Treasury document said.
A new report argues that the government must change the way it makes tax and budget decisions
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC