Autumn Budget and spending review 2021
Executive summary
- In response to a request to comment on Budget developments in the context of the Treasury Committee’s March 2021 report into Tax after Coronavirus, AAT believes that the important considerations and recommendations made within that report have been largely disregarded by government, certainly in relation to the Autumn 2021 Budget.
- AAT supports the proposed increases in the National Living Wage (NLW) and National Minimum Wage (NMW) following the recommendations of the independent Low Pay Commission.
- AAT very much supports the basic principle of allowing working households on Universal Credit to keep more of what they earn. As a result, the reduction in taper relief from 63% to 55% by 1 December 2021 is a helpful step forward.
- AAT welcomes the decision to extend the Employment and Support Allowance.
Related consultation responses
National Minimum Wage: salaried workers and salary sacrifice schemes
Our feedback covers payment cycle flexibility, salary sacrifice schemes, and whether the rules protect workers from exploitation without burdening employers.
March 2020 Budget
AAT's response to the Spring Budget 2020 includes comments on personal tax, Corporation Tax, Indirect Tax, and tax avoidance, evasion, and non-compliance.
Tax reliefs inquiry
We believe there's room to reform major relief expenditures. We also recommend halving the headline rate of Inheritance Tax and reforming pension tax relief.
Reduction and consolidation of HMRC statistics publications
Our response includes comments on proposed changes to publications on capital taxes, Income Tax statistics, VAT, and pensions and savings.
