Exploring the role of tax reliefs
Investment in infrastructure and innovation to support growth were two key features within the Spring Budget. Lindsey Wicks examines the role that tax reliefs play in delivering the government’s goals, including going into detail about simple and certain reliefs.
In terms of answering the NAO’s concerns, HMRC reports some statistical data about the costs of these reliefs, but that’s different to examining their impact. Where a relief is available, HMRC plays both Dr Jekyll and Mr Hyde: it has a role in promoting the relief to encourage expenditure, but then also scrutinises claims to detect avoidance. Do tax reliefs have a place in influencing spending habits?
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