In a new report, the cross-party Committee of MPs concludes that the UK’s overcomplicated tax system is an obstacle to economic dynamism, creating compliance burdens, confusion and disincentives to work or grow a business.
There are over 1,180 separate tax reliefs in existence, as well as numerous ‘cliff edges’ littering the tax system, such as the threshold for tax-free childcare and the VAT threshold for small businesses.
