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The Chartered Institute of Taxation (CIOT) is among three organisations that are urging the chancellor to make immediate changes to improve and simplify tax policymaking. In a letter, the CIOT joined the Institute for Government (IfG) and the Institute for Fiscal Studies (IFS) in recommending:
The Chartered Institute of Taxation (CIOT) is among three organisations that are urging the chancellor to make immediate changes to improve and simplify tax policymaking. In a letter the CIOT joined the Institute for Government (IfG) and the Institute for Fiscal Studies (IFS) in recommending:
- returning to a single annual fiscal event to stop autumn statements becoming second budgets leading to a proliferation of measures and long finance bills;
- starting the consultation process earlier;
- establishing guiding principles to indicate clearly the direction of travel for tax policy;
- indicating the areas in which individuals and businesses need to plan and make long-term decisions such as pensions and savings; and
- preparing the ground for future policy changes through external reviews to open up public debate about the tax system. ...
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