The Treasury Committee launched a new inquiry in July called ‘Tax after coronavirus’. To look at what the major long-term pressures on the UK tax system are, what more the UK can do to protect its tax base from globalisation and technological change, and whether such pressures should be met with tax reform.
CFG has worked with CTG, NCVO and IOF to form a response to this Inquiry.
This joint response to the Inquiry, from sector experts on tax and finance issues, outlines a number of core principles that should underpin any reform of taxation going forward. As a minimum, existing charity tax reliefs should be protected and tax compliance and administration simplified. We highlight the importance of protecting valuable existing business rates and VAT reliefs, future-proofing tax systems and legislation and call for improved collaboration and dialogue between HMRC and the charity sector. The charity sector also makes a specific call for a Gift Aid Emergency Relief package to help ensure charities have sufficient funds to play a leading role in the COVID-19 recovery.
Read the response in full*
(*Response reproduced with permission of the Committee clerks – the Committee has not yet responded to the Inquiry)
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