Click button to open menu

ICAEW calls for Autumn Budget to 'accelerate work to build modern tax system'

12 Oct 2021

The Tax Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW) has urged the government to use the upcoming Autumn Budget to help accelerate work on building a modern UK tax system.

The ICAEW has called for the government to ensure the tax system is 'fit for purpose in a modern world', and that it embraces simplification and digitalisation.

In a letter to the Financial Secretary to the Treasury, the ICAEW urged the government to 'explore opportunities offered by the UK's departure from the EU', including the simplification of VAT rules.

The ICAEW has also called for future tax policy to be sustainable from both climate change and fiscal perspectives, cautioning against introducing complex new green taxes and instead suggesting that existing legislation should be used to address environmental goals.

The ICAEW's recommendations can be read in full here. The Chancellor will present the 2021 Autumn Budget on 27 October.

Registered to carry out work in England and Wales and regulated for a range of investment business activities by the Institute of Chartered Accountants in England & Wales.

Details about our audit registration can be viewed at www.auditregister.org.uk for the UK under reference number C006856925

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2021 Greenaway Chartered Accountants. All rights reserved.

Greenaway Chartered Accountants, 150 High Street, Sevenoaks, Kent TN13 1XE

We use cookies on this website, you can find more information about cookies here.