{"id":9314,"date":"2011-03-23T10:20:15","date_gmt":"2011-03-23T08:20:15","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=9314"},"modified":"2011-03-23T10:20:18","modified_gmt":"2011-03-23T08:20:18","slug":"what-i-also-want-for-the-budget","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2011\/03\/23\/what-i-also-want-for-the-budget\/","title":{"rendered":"What I also want for the Budget"},"content":{"rendered":"

I wrote yesterday about what I wanted for budget day.<\/a><\/p>\n

Let's add some more:<\/p>\n

1) The end to Channel Islands' VAT abuse<\/p>\n

2) Reform to the domicile rule<\/p>\n

3) \u00a32 billion dedicated a year to closing the tax gap - with a yield of up to \u00a320 bn and 30,000 jobs<\/p>\n

4) 25% of all pension contributions to be invested in employment creating investment in the UK as a condition of tax relief<\/p>\n

5) The adoption of Caroline Lucas' Tax and Financial Transparency Bill as government policy - meaning we would have country-by-country reporting in the UK and that all bank accounts of all limited comanies would have to be notified to HMRC - meaning those who are trading would be known so they could not avoid their liabilities;<\/p>\n

6) A general anti-avidance principle<\/p>\n

7) An investment income surcharge to stop national insurance avoidance - so much simpler than merging it with income tax<\/p>\n

8) 50% tax at \u00a3100,000 of income - proceeds used to raise personal allowance at basic rate AND take people out of NIC on low income<\/p>\n

9) A restriction on tax allowances available to all with income over \u00a3100,000 to a maximum of \u00a35,000 a year - so that the poorest in this country don't subsidies the savings of the richest as they do at present. Reallocate revenue raised as for (8)<\/p>\n

10) Require beneficial ownership of all companies in UK on public record and that all directors prove their identities to Companies House<\/p>\n

11) Create a public register of trusts<\/p>\n

12) Demand (11) and (12) of the Crown Dependencies and all British Overseas Territories<\/p>\n

13) Full UK support for the extension of the EU Savings Tax Directive, Common Consolidated Corporate Tax Base and full country-by-country reporting.<\/p>\n

14) An empty property tax<\/p>\n

15) Reform to the residence rules.<\/p>\n

And now I've got a train to catch so I'll stop there.<\/p>\n

What do I realistically expect?:<\/p>\n

a) Local authority bonds<\/p>\n

b) Reform to Channel Islands' VAT rules<\/p>\n

c) Reform to domicile rule<\/p>\n

d) Mention of tax residence<\/p>\n

e) Mention of a General anti-avoidance provision<\/p>\n

And of the rest that would make so much change? Not a hope, I fear.<\/p>\n

Which is how we know George Osborne is not serious about tackling the deficit, making sure we're all in this together or tackling tax abuse.<\/p>\n

(Sorry for absence of links to all ideas - but all can be found by searching this site)<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

I wrote yesterday about what I wanted for budget day. Let’s add some more: 1) The end to Channel Islands’ VAT abuse 2) Reform to
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