With the formal start of the election campaign each of the main parties are busy spinning tax by stepping-up promises for themselves and undermining their opponents. The Tory promise not to increase VAT wrong-footed Labour, who were pushed into a hasty promise on not increasing national insurance, NI. The SNP in Scotland are joined by Plaid Cymru in Wales to get bigger spending for themselves paid for by big tax increases in England. UKIP want to increase the personal income tax allowance and introduce a 35% tax band. Northern Ireland wants more for Northern Ireland. Sad to say the only thing in common with all of them is they are election promises which can and will get forgotten if convenient. But to be realistic that is politics.
Tax Barrister, Accountant