Whichever party is elected to govern the UK on 6 May and even if no one party secures an overall majority it is clear that some tough fiscal choices and decisions will have to be made. In the battleground of spending cuts versus tax rises indirect taxes are a crucial part of the new Chancellor's armoury. And yet it is almost as though VAT is the elephant in the room. Thousands of words are written about National Insurance increases and the 50% tax rate about taxing non domiciles death taxes to fund residential care Stamp Duty increases for houses over £1 million and the loss of personal tax allowances and pensions relief for high earners and yet when it comes to VAT — very little and every word is weighed and chosen carefully. No...
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Whichever party is elected to govern the UK on 6 May and even if no one party secures an overall majority it is clear that some tough fiscal choices and decisions will have to be made. In the battleground of spending cuts versus tax rises indirect taxes are a crucial part of the new Chancellor's armoury. And yet it is almost as though VAT is the elephant in the room. Thousands of words are written about National Insurance increases and the 50% tax rate about taxing non domiciles death taxes to fund residential care Stamp Duty increases for houses over £1 million and the loss of personal tax allowances and pensions relief for high earners and yet when it comes to VAT — very little and every word is weighed and chosen carefully. No...
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