Reducing corporation tax rates instead of tinkering with reliefs is the answer to the complex tax regime, says Stephen HerringAll tax practitioners advising multinational companies, listed companies, entrepreneurial businesses, trusts and individuals have their own list of anomalies in the UK’s tax legislation which should be rectified without further delay. Almost invariably, those solutions involve significant costs to the Exchequer which Treasury ministers are unwilling to accept, especially in the context of a substantial fiscal deficit.
