A leading UK think tank has labelled the Treasury’s new 50% tax rate as
‘unfair, complex, inefficient and damaging.’
The Centre for Policy Studies says the 50% rate, which the Treasury estimates
will raise an extra £2.4bn, is minimal compared to the £175bn in government
borrowing requirements, according to
The group has said some of Britain’s wealthiest taxpayers are now likely to
turn their back on the country.
Corin Taylor, senior policy adviser at the Centre for Policy Studies, said
the new rate is detrimental to the entrepreneurs who are instrumental in helping
to bring the UK out of the recession.
‘Green shoots of recovery will wither and die if business leaders leave or
choose not to come to this country because of the higher tax rate,’ he said.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said