Osborne kills off 43 types of tax relief from system

first_img Tags: NULL Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap COMPLICATED and ineffective tax reliefs were struck off the government’s books yesterday as the chancellor committed to simplifying the tax regime.George Osborne removed 43 types of tax relief from the system, such as the Millennium Gift Aid, which he pointed out “we won’t need for another 989 years”.The moves, which come from recommendations made by the Office of Tax Simplification, will cut the UK’s tax code by 100 pages.“Our purpose is not to increase taxes, it is to simplify them,” he said.Osborne also proposed merging the two major taxes on salaries – national insurance and income tax – into one to “dramatically simplify” the system.Operating them as separate taxes “imposes totally unnecessary costs and complexity on employers, ” he said. Osborne kills off 43 types of tax relief from system KCS-content Wednesday 23 March 2011 9:07 pm whatsapp whatsapp Show Comments ▼last_img