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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