Simplifying the formal structure of UK income tax

Article Abstract:

The complexity of United Kingdom's taxation system has created a detrimental impact on marginal rates levied on taxpayers. The country's taxation scheme is vulnerable to changes since tax schedules are based on rate/band structure. Under such structure, modifications in tax allowances would trigger further alterations in band limits, marginal rates and gross-income evaluation. The government is strongly urged to adopt an income tax system which utilizes zero-rate band limit in order to enhance tax administration.

Models, Economic aspects, Tax rates

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Bindings rulings

Article Abstract:

UK's Revenue office should be authorized to utilize a system of advance rulings for the benefit of taxpayers in situations where the pertinent transaction has already occurred. There are advantages for retaining such transactions in areas concerning taxpayer fiscal-planning and risk management. This system would allow self-assessment and aid taxpayers in quantifying the scope of their obligations under the law.

Research, Fiscal policy

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An analysis of indirect tax reform in Ireland in the 1980s

Article Abstract:

Indirect tax reform in Ireland between 1980-87 is analyzed using the Ahmad and Stern model that determines tax reform based on a marginal social cost (MSC) parameter. Results show that emphasis on macroeconomic issues led to an increase in the MSC of taxation and a decrease in the inequality aversion of the government. The model is also extended to rank commodities by marginal revenue cost.

Ireland, Tax reform

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