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What does the future hold?
Key points
- Uncertainty caused by Brexit and the coronavirus pandemic may have produced a favourable climate for tax reform.
- There should be a public debate to inform the development of tax policy.
- ICAS has made recommendations for tackling key tax issues in Future of Taxation in the UK.
The EU referendum and the prolonged Brexit process have created considerable uncertainty. The coronavirus pandemic has added a whole new layer of uncertainty but it may also present the government with an opportunity to generate public support for tax reform. This has previously been difficult to achieve but the aftermath of the pandemic with strong public support for the NHS might be the ideal moment for an open debate about who should pay tax and how much they should contribute.
The Institute of Chartered Accountants of Scotland...
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