Brexit & EconomyPoliticsProfession creates manifesto

Profession creates manifesto

Accountancy Age readers reveal their manifesto ideas

The merger of income tax and national insurance, supply of free XBRL
software and legal protection for the term accountant are among the proposals
for a manifesto from the profession.

Accountancy Age readers have reacted enthusiastically to our
invitation to create a manifesto from accountants for the new government to
implement.

The proposals have been wide and varied.They have ranged from transformation
of the tax system and the way government does business, to increased powers for
the National Audit Office and reform of fair value accounting.

Some of the most popular proposals include:

• Free XBRL software to speed up returns

• More powers for the National Audit Office

• Root and branch reform of HMRC – what could that mean

• Restricted use of term accountant – a register of accountants a la lawyers

• Simplify corporation tax regime and systems of capital allowances

• Increase in IHT threshold to £500,000 others say £2m

• Bring together income tax and NICs in one tax

• Bring together VAT, PAYE, NIC, corp tax into a single payment

• Apply govt’s own consultation rules fairly

• abolish fair value accounting

• Commit to reducing the size of the finance act each year/ improve the
process – remove surprises and improve consultation

• Bring PFI on to the balance of government financial reporting

Accountancy Age intends to compile a Top Ten list of the most popular to send
on to government once the election is over .

To let us know your ideas email comment@accountanacyage.com.

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3m Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

3m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

4m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

5m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

5m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

5m Alia Shoaib, Reporter