The UK government has introduced eight major new taxes since 2008, accounting for nearly £28bn in revenue, HMRC’s statistics for the year ended 31 May 2018 reveal.
These include the apprenticeship levy, bank levy, bank surcharge, diverted profits tax, bank payroll tax, ATED, UK/Swiss tax cooperation agreement levy and, most recently, the soft drinks industry levy.
Darren Grimes, tax partner with UHY Hacker Young, commented: ‘The number of brand new taxes introduced by the government clearly goes against their stated aim of tax simplification – overlaying an already complex tax system with more and more rules.’
‘Every new tax sounds superficially attractive with admirable ends, but every new tax makes the UK a harder place to do business and helps to put off inward investment,’ Grimes added.
The UK government has introduced eight major new taxes since 2008, accounting for nearly £28bn in revenue, HMRC’s statistics for the year ended 31 May 2018 reveal.
These include the apprenticeship levy, bank levy, bank surcharge, diverted profits tax, bank payroll tax, ATED, UK/Swiss tax cooperation agreement levy and, most recently, the soft drinks industry levy.
Darren Grimes, tax partner with UHY Hacker Young, commented: ‘The number of brand new taxes introduced by the government clearly goes against their stated aim of tax simplification – overlaying an already complex tax system with more and more rules.’
‘Every new tax sounds superficially attractive with admirable ends, but every new tax makes the UK a harder place to do business and helps to put off inward investment,’ Grimes added.
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