TaxCorporate TaxLibDems launch ‘Simpler Tax’ drive

LibDems launch 'Simpler Tax' drive

The Liberal Democrats have launched a new campaign to simplify the tax system and lighten the burden of tax regulations on businesses and individuals.

The drive is spearheaded by Edward Davey, the party’s shadow chief secretary to the Treasury. Speaking on its launch, he said Britain’s tax system was ‘ridiculously comple and that complexity costs business, individuals and the government’.

‘At every Budget the level of complication increases and the tax maze gets longer. The current system is complicated and opaque and is a costly minefield to many individuals and businesses.

‘Liberal Democrats believe Gordon Brown should announce a new strategy for simpler tax in tomorrow’s budget. It is no longer enough to have a “Comprehensive Spending Review” without a “Comprehensive Taxation Review” to assess its impact on business.

‘We also propose five “quick wins” for tomorrow’s budget, including simpler marriage allowances for Britain’s pensioners, a shorter annual tax return and an easier VAT reclaim system for business start-ups.’

The “Simpler Tax” campaign is based on a website, www.simplertax.org.uk and a monthly e-newsletter, sent to hundreds of top tax professionals, businesses, academics and finance journalists.

Simpler Tax will consult on radical ideas over the next 2 years, including:

  • the replacement of the annual Finance Bill with a biennial Bill;
  • the abolition of the contributory principle of national insurance;
  • the abolition of the coding system of PAYE for income tax & NICs;
  • the merger of Customs and Excise with the Inland Revenue

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

1w Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

2w Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

2m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

3m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

3m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

6m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

6m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

7m Alia Shoaib, Reporter