Abolish all Taxation except VAT

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Abolish all Taxation except VAT

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To be simple fair and effortless to both the tax payer and the government I propose the abolition of all taxation (income tax, capital gains tax, inheritance tax, corporation tax) except for VAT and similar duties.

All government revenues would be based exclusively on personal and business purchases, simplifying massively their collection; there would be no more PAYE or self-assessments to declare and administer. And with all of HMRC enforcing the VAT revenue source dodging tax would become very difficult.

NICs would still be necessary for entitlement to insurance services (NHS, pensions, benefits), but the contributions would no longer factor in personal income levels.

The application of VAT and other duties (fuel, stamp, imports) would require a substantial review so as justifiably cover government costs. In a similar style to France, purchasing of essential products or services could incur a low levy of 5%; non-essentials at 20%; and luxury items at 40%.

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