I do sense a new desire from Government to get this right and learn from past mistakes. As I’ve written in the past, much of the backtracking on capital gains tax, non-doms and now the 10p rate could have so easily been avoided had there been proper consultation with bodies such as the ICAEW.

We are willing and able to give impartial, non-partisan advice on the consequences, intended and unintended of proposed changes to the tax system.

The removal of the 10p band combined with a reduction in the basic rate of income tax from 22p to 20p was positioned in the same way as the CGT reforms as a step to simplify the tax system. Simplification is something we fully support.

Yet subsequent modifications to the proposals have served only to introduce further complexity. Real simplification can only happen if there is a proper, well thought through, clearly defined and articulated strategy implemented over a number of years.

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