10 tax loopholes and allowances to close, now

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Some people seem determined to say that the TUC did not name ten tax loopholes it wanted to close in 'Kerching'. I think those doing so are sophists, but for the sake of all those who'd like a list of ten tax loopholes I'd close (and I stress, this is my list, not the TUC's), try these:

1) Align CGT and income tax rates

2) Abolish venture capital trusts

3) Abolish Enterprise Management Incentive

4) Abolish higher rate pension tax relief

5) Abolish higher rate releif on charitable giving

6) Abolish all film tax incentives

7) Remove the upper earnings limit for national insurance contributions (but cut the higher rate income tax rate below £100,000 to compensate)

8) Abolish all share incentive schemes unless available to all staff on similar terms

9) Dramatically reduce or remove CGT entrepreneur's relief

10) Substantially reduce scope of inheritance tax business property and agricultural property reliefs.

Why do this? Because we'd have a fairer, simpler, more effective and efficient, less abused and more certain tax system as a result and for 99% of the population nothing would change but a better distribution of tax bills would result.