Five Proposed Structural Changes to the UK Tax System
COVID-19 has hit many UK businesses hard. Losses carried forward will mean a significant drop in tax revenues for the foreseeable future, while the CJRS and SEISS will leave the UK government with unprecedented debt and deficit levels. Against this backdrop, tax increases may well be inevitable in the medium to long term. Rather than further tinkering to the UK tax system, structural reforms are needed if tax rises are to have a sustainable and meaningful impact.
Sarah Gabbai authored this piece for Tax Journal, proposing five reforms that aim to increase revenues and simplify the UK tax system.