BusinessCompany NewsBankers urge tax reform to keep UK attractive

Bankers urge tax reform to keep UK attractive

British Bankers Association wants simplified tax regime to halt tax competitiveness slide

city of london

HM Revenue &
Custom’s
strategy of broad anti-avoidance legislation must be
halted to halt the UK’s worsening position in international tax competitiveness,
warns the
British
Bankers Association
(BBA).

In the association’s Budget submission, it called for more narrow tax
avoidance measures as opposed to a broad brush strategy.

The BBA also wants simplified and coherent tax rules for the financial
services industry, plus a more ‘considered approach’ to reform VAT on the
industry.

‘The compounding complexities of UK tax law are significant competitive issue
for the UK, and the size of annual Finance Bills is of going concern,’ the
submission stated.

Further reading:

Heads in the sand over fraud

Accounting errors: make no mistake

Fair value sparks IFRS fatigue

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