Market leading insight for tax experts
View online issue

Tax after coronavirus

printer Mail

The Treasury Committee has launched a new inquiry Tax after coronavirus into the future of the UK tax system after the pandemic. As part of the inquiry, a call for evidence (open until Friday 28 August 2020) is seeking views on the major long-term pressures for the UK tax system, 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.

The Committee will also seek evidence on what overall level of taxation the economy can bear without undesirable or counterproductive harm to economic growth, how to achieve the right balance between taxation of work, savings, pensions and wealth, the role of tax reliefs in rebuilding the economy, and whether there is a role for windfall taxes in the post-coronavirus world. Mel Stride, chair of the Treasury Committee, commented that ‘tax will play a major role in the years ahead in restoring the public finances and ensuring that we have a recovery which is balanced across the UK and fair to all ... the Treasury Committee has launched this inquiry to examine how the Government should approach taxation after the coronavirus’.

Glyn Fullelove, president of CIOT which hosted an online launch for the inquiry, said: ‘Whatever policies are adopted to meet the challenges ahead, being able to predict what the UK tax system will deliver under any given set of measures is vital for the chancellor of the exchequer. Exploring whether this is possible is a vital task’.

Issue: 1497
Categories: News