Myth-busting – Electrical Safety installations Act 202011:19 AM, 3rd August 2020
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The Government wants to make working out how much tax to pay less taxing by modernising the system, combining National Insurance and income tax.
In a ground-breaking move, the Treasury has published two long-awaited consultation documents outlining a more straightforward tax system for workers and the self-employed.
The intention is to look at integrating PAYE and National insurance (NIC) in to a single deduction on payslips.
Ministers believe too many people find calculating tax too complicated and want to have a clearer and easier to understand process.
One paper looks at modernising the tax system, while the other looks at the best way to combine PAYE and NICs.
The Treasury is looking for employers, tax and payroll professionals to join working groups tasked with identifying and exploring options over the coming months.
Taxpayers, representative bodies, and tax professionals are also invited to give their views on:
Exchequer Secretary David Gauke said: “For many, the tax line on their pay slip is the only time they see just how much they’re paying in tax, but the government doesn’t think that’s good enough. We want to make tax more transparent and we want people to be more engaged with their own tax affairs.
“We plan to lift the lid on tax so that people understand how much they are paying, what their overall tax rate is, and what they should be paying, in the same way that the government has lifted the lid on what they are paying for.
“We are also exploring ways in which we could integrate the operation of income tax and NICs, with benefits for employers and employees. The government will be working in partnership with external stakeholders to identify options and will report on progress at Budget 2012.
“Our vision is to transform the customer experience of the personal tax system. The documents published today set the stage for the ideas and innovations that will realise that ambition.”
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