UK Treasury Should Reform Abused, Expensive Tax Reliefs, MPs Say
07/26/2023 07:48
The UK Treasury should review hundreds of billions of pounds worth of tax breaks, according to a report from Parliament’s influential Treasury Committee, which described the system of reliefs as overly complicated.
The UK Treasury should review hundreds of billions of pounds worth of tax breaks, according to a report from Parliament’s influential Treasury Committee, which described the system of reliefs as overly complicated.
The government should systematically look at existing tax reliefs and look for ways to simplify the country’s “ever-expanding” tax code, the multi-party panel said on Wednesday in a statement. It said there are 1,180 tax reliefs in place, but the cost of only 365 is known.