Election 2024 – what taxes could be raised?

With the main parties promising to freeze income tax, NICs and VAT, Andrew Loan, partner, private client & tax, at Boodle Hatfield, says there’s plenty of other taxes that could be hiked to increase the tax base

The UK government currently brings in around £1 trillion in tax revenue each year, which equates to about 40% of GDP. Unsurprisingly then, tax – the amount and who it falls on – remains an important political issue.

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