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CIOT/IFS debate hears suggestions on taxing different ways of working

Less than a week after Chancellor Philip Hammond’s now infamous U-turn on the planned class 4 NIC rate rise tax professionals came together on Monday 20 March at the CIOT and IFS debate on how different ways of working should be taxed. Suggestions put forward included: reducing the VAT threshold; the introduction of a new flat-rate withholding tax for workers; and charging NICs on an annual basis.

The debate was introduced by Paul Johnson IFS director and chaired by Bill Dodwell CIOT president. A ComRes poll at the weekend Dodwell observed showed that 52% of those surveyed said the chancellor was wrong to increase NICs for the self-employed in the Budget with only 34% saying he was right.

Helen Miller IFS associate director said in future one would have to look at how to package planned tax measures to make them...

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