Bankers urge tax reform to keep UK attractive

city of london

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

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

‘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.

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