Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Vidhya Alakeson, a researcher from the United Kingdom has spoken out at a conference in Cork to state that tax breaks given to middle income groups would be far more beneficial to the UK economy than abolishing the 50p tax rate.

Alakeson is from the Resolution Foundation, which aims to benefit people in the UK who have low to middle incomes. As the director of research and strategy, Alakeson believes that the £2 billion tax break which may be given to the wealthiest in the country by removing the 50p rate of tax, would probably be used by them to increase their savings. However, if the £2 billion was spent on tax breaks for people who are in the bracket for low to middle incomes, people would be spending the extra money on consumer items like food and fuel. Economic growth would be stimulated by them reinvesting in the UK economy.

Alakeson also considers that Ireland could benefit from the argument to give tax breaks to the six million families which are in the low to middle income group, as although inflation isn’t as high as it is in the UK, low earning families are feeling the squeeze, financially. She also stated that the setting of wages should be the target of reform, as low paid sectors experience different rates of pay, although being situated in the same areas. Minimum wage reform for low paid employees would create jobs and provide long term viability for small businesses in lower paid sectors.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

Read More

Succession Planning for Business Owners: What Comes Next?

When you own a business, it’s extremely normal to feel like you’re surviving one day to the next – ‘winging it’, as…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.