CIOT and IFS debate: Where next for income tax?

Monday 26 June 2023 | 18:30 - 20:00

Join CIOT and the Institute for Fiscal Studies on Monday 26 June for another debate at 10-11 Carlton House Terrace!

You can join us at the venue or watch the debate online. The in-person event will be followed by a drinks reception for attendees from 8pm - 9pm.

THE DEBATE

Income tax is the UK’s biggest revenue raiser, and is always high on the political agenda. A series of policy changes in the past 15 years have added complexity with high marginal rates at arbitrary points. And there have been sharp changes of direction on the personal allowance and the higher-rate threshold, culminating in the current multi-year freeze of thresholds, which is set to be the single biggest tax rise since the 1970s. Recent reports indicate that the Prime Minister intends to cut income tax rates in advance of the general election.

What is the plan for income tax? How many should have to pay it, and who should pay higher rates? Is it right to withdraw the personal allowance from people with incomes above £100,000 and to use income tax to withdraw child benefit from families with a high earner – or, if not, what should be done instead? Should the marriage allowance be expanded, reformed or abolished? Why did the rate schedule go from being relatively simple to being riddled with these bumps and anomalies?

Join our panel of experts for discussion of these and other questions around the future of the UK’s biggest tax.

OUR PANEL

John Barnett, Partner, Burges Salmon, and Chair, CIOT Technical Policy and Oversight Committee

Fran Bennett, Associate Fellow, Department of Social Policy and Intervention, University of Oxford

Tom Waters, Associate Director and Head of Income, Work and Welfare, Institute for Fiscal Studies

Nigel Mills, MP for Amber Valley and former Tax Adviser

Chair: Gary Ashford, President, Chartered Institute of Taxation

This event is free to attend and open to all with an interest in the topic. The format for this event will be short speeches / presentations from panelists followed by a discussion, with the opportunity for audience members to make comments and put questions to our panel. 

To watch a recording of the event, please click on the button below.