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MPs call for an increase in HMRC funding and tax strategy stability

A recent survey commissioned by two UK accountancy bodies has revealed that the majority of MPs support the introduction of a stable tax strategy.

The research was commissioned by the Association of Chartered Certified Accountants (ACCA) and the AAT Association of Accounting Technicians (AAT). It was carried out by

the Internet-based market research firm, YouGov.

Two-thirds of the MPs surveyed believed that the Government needed to be clearer about their long-term taxation plans. They agreed that it was a good idea for the Government to publish a clear statement of their tax strategy, which they would then have to stick to for the duration of Parliament. Something similar has been done only once before. In 2010, the Treasury published their “corporate tax reform road map”.

The government being clearer about their future tax plans and strategy is something that accountants from Liverpool to Heswall would also welcome. The Chief Executive of AAT, Mark Farrar confirmed this when he commented on the survey findings and said:

“AAT has long called for a broad, overarching tax strategy to be published for the sake of all taxpayers – businesses and individuals alike – as well as to help Government.”

During the survey, the MPs were also asked whether they would support a higher level of investment in HMRC. Again, the idea was broadly supported. In total 73% of the respondents, who were drawn from all sides of the house, agreed with the idea.

Posted by Louise
April 30, 2018
HMRC

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