Tax experts at the ICAEW fear the business ship is ‘in danger of capsizing’ under the weight of new tax legislation, including the new rules for company cars, the climate change levy and the aggregates levy.
Frank Haskew, senior technical manager of the ICAEW’s Tax Faculty, said: ‘Businesses need a break – they are fed up with trying to fathom never-ending legislation.’
The faculty argued published draft legislation already filled more than 250 pages and it feared the next Finance Bill could be the longest on record.Haskew urged the Chancellor to find other ways to raise money for increases in public expenditure.
‘If more money is needed to fund the NHS, the Chancellor should have the courage of his convictions and raise the money in a clear and straightforward way – and not resort to further stealth taxes or yet more changes of policy that damage UK business.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states