| Topic: | Re:Re:Good Luck! | |
| Posted by: | Sam Hearn | |
| Date/Time: | 23/01/26 15:30:00 |
| The UK Tax Code apparently runs to over 21,000 pages. No one individual can claim to understand it all. Complexity is piled upon complexity with the aim of making is "fairer" and to close loopholes. As a start can we please have a Chancellor brave enough merge income tax and employees national insurance. Employers NI would have to remain as a simple payroll tax. Those with pensions and investment income would pay more tax but the pain could be eased with transitional arrangements and personal allowances e.g. no tax on the first £5,000 of pensions in excess of the state pension and no tax on the first £5,000 of investment income. Personal tax would be hugely simplified and those people employed by the NI behemoth could be redeployed to do something useful e.g. extracting sunlight from cucumbers or gelding unicorns. |