UK tax expert warns of 'uncertain' future

Chas Roy-Chowdhury, head of taxation at the Association of Chartered Certified Accountants (ACCA), was warned that significant tax increases could be just around the corner.

Speaking at the recent Tax and Estate Planning Conference in London, Mr Roy-Chowdhury said that the government may be tempted to increase VAT to 19 per cent next year, FT Adviser reports.

He also indicated that capital gains tax could be in line for a hike, suggesting that the Treasury could opt to align it with income tax in an attempt to fill the large hole in public finances.

According to the news provider, Mr Roy-Chowdhury concluded by saying that the future of taxation in the UK is ’more uncertain today than ever before’.

He added: ’The future landscape will almost certainly be a lot different.’

Earlier this week, the Investment Management Association called for chancellor Alistair Darling to outline several taxation reforms in his pre-Budget report, including the abolition of stamp taxes on UK equities.
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