Govt consults on single income tax, NI system
Businesses could soon have yet more tax issues to contend with, as the government has proposed combining the income tax and National Insurance (NI) contributions systems.
It is currently asking for opinions on the matter, as concerns have been raised over the burdens associated with running two separate systems.
David Gauke, exchequer secretary to the Treasury, commented: "The government is committed to a programme of tax reform that aims to make the UK tax system the most competitive in the G20 for business, and simpler to understand for individual taxpayers."
He highlighted that the consultation marks the first step in this process and welcomed the input of businesses and other parties with an interest in the matter at hand.
HM Treasury recently announced a number of changes to the way in which non-domiciles are taxed in the UK, which will now be subject to public consultation.
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Published on: July 12, 2011
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