{"id":17197,"date":"2012-09-08T10:38:12","date_gmt":"2012-09-08T09:38:12","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=17197"},"modified":"2012-09-08T10:38:12","modified_gmt":"2012-09-08T09:38:12","slug":"10-tax-loopholes-and-allowances-to-close-now","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/09\/08\/10-tax-loopholes-and-allowances-to-close-now\/","title":{"rendered":"10 tax loopholes and allowances to close, now"},"content":{"rendered":"<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2012\/09\/06\/17182\/comment-page-1\/#comment-620046\" target=\"_blank\">Some people<\/a> seem determined to say that the TUC did not name ten tax loopholes it\u00a0wanted\u00a0to close in <a href=\"http:\/\/www.tuc.org.uk\/tucfiles\/368\/Kerching.pdf\" target=\"_blank\">'Kerching<\/a>'. 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:<\/p>\n<p>1) Align CGT and income tax rates<\/p>\n<p>2) Abolish venture capital trusts<\/p>\n<p>3) Abolish Enterprise\u00a0Management\u00a0Incentive<\/p>\n<p>4) Abolish higher rate pension tax relief<\/p>\n<p>5) Abolish higher rate releif on charitable giving<\/p>\n<p>6) Abolish all film tax incentives<\/p>\n<p>7) Remove the upper earnings limit for national insurance contributions (but cut the higher rate income tax rate below \u00a3100,000 to compensate)<\/p>\n<p>8) Abolish all share incentive schemes unless available to all staff on\u00a0similar\u00a0terms<\/p>\n<p>9) Dramatically reduce or remove CGT entrepreneur's relief<\/p>\n<p>10)\u00a0Substantially\u00a0reduce scope of inheritance tax business property and\u00a0agricultural\u00a0property reliefs.<\/p>\n<p>Why do this? Because we'd have a fairer, simpler, more effective and efficient, less abused and more certain tax\u00a0system\u00a0as a result and for 99% of the\u00a0population\u00a0nothing would change but a better distribution of tax bills would result.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some people seem determined to say that the TUC did not name ten tax loopholes it\u00a0wanted\u00a0to close in &#8216;Kerching&#8217;. I think those doing so are<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/09\/08\/10-tax-loopholes-and-allowances-to-close-now\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-17197","post","type-post","status-publish","format-standard","hentry","category-tax-avoidance"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=17197"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/17197\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=17197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=17197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=17197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}