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ICAEW responds to ‘Tax after coronavirus’ report

Author: ICAEW

Published: 08 Mar 2021

Following an inquiry into the effects of the coronavirus pandemic on the UK’s tax system, the Treasury Committee has released a report, titled ‘Tax after coronavirus’. The report looks at what the major long-term pressures on the UK tax system are, what more the UK could do to protect its tax base from globalisation and technological change, and whether such pressures should be met with tax reform.

Responding to the release of the report, Anita Monteith, ICAEW Tax Faculty Technical Manager said: 

“This report presents a realistic and thoughtful set of proposals for a post-COVID tax system. The suggestions to reform tax give a lot to work with, and we look forward to seeing the Chancellor’s approach to this in his Budget statement on Wednesday. 

“It is notable that the Committee commented that the difference between levels of support possible through the COVID schemes for the self-employed and for people working through small private companies has been driven largely by the structure of the current tax system. This should be kept in mind during planning for reforms.”

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