Raise income tax not VAT, say finance managers
Income tax a surprise popular choice among finance managers to eat into public deficit
Income tax a surprise popular choice among finance managers to eat into public deficit
Income tax will have to rise to cut the public deficit, reducing public
spending will not be enough, warn UK finance managers.
A
Lindsell
Marketing survey of 1,000 private company finance managers finds
around two-thirds flag up an income tax rise alongside central government
spending cuts should be priorities.
Only a quarter believed a VAT rise or mansion tax were worthy of attention.
In terms of spending cuts, they want the government to leave the police, NHS
and local government largely alone, and instead focus on cutting waste in
central government departments and Quangos.
“Experienced finance professionals, who have to make hard decisions week in,
week out, are telling the new boys on the block not to tinker around the edges,
but to get straight down to the hard tack,” said Paul Lindsell, managing
director of Lindsell Marketing.
Further reading:
Cut
in corporation tax expected tomorrow
CGT
hike could see equity snub
CGT
hike could see 1 million pay more tax
The numbers you crunch tell a story. Your expertis...
14yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleHMRC sees the profit or loss made on buying and selling of exchange tokens as within the charge to Capital Gains Tax (CGT). Read More...
View articleThe recent IR35 case involving former Liverpool footballer and Sky Sports presenter, Phil Thompson, has drawn attention to the complexities and implic...
View articleFrom January 1, 2024, HMRC will implement new tax rules affecting individuals who sell items on platforms like Etsy, Depop, and Vinted. The new regula...
View articleHMRC reveal a small majority of people are soldiering a significant proportion of income and capital gains tax, following FOI request. Data has reigni...
View articleSteven Pinhey, technical officer at the Association of Taxation Technicians (ATT), considers how the rules on deductible expenses work in a social med...
View articleATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleThis was the fourth largest borrowing year since records began in 1993 Read More...
View articleATT technical officer, David Wright, provides an overview of the welcome relaxation to CGT provisions for separating couples looking to transfer asset...
View article