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TAX CREDITS , CHILD BENEFIT.

Comment 6th July 2010

Working tax credits should be processed and paid through the tax coding system. This will cut down on the bureacracy and paperwork involved.

In an overpopulated country child benefit should only be paid for the first two children and also only to those paying standard rate tax. Again, the benefit could be paid through the tax coding system to cut down on more bureacracy and paid only to married couples to encourage marriage where children are involved.

The personal tax allowance should be raised to £10,000 to help the low waged and this would be paid for by a rise in the top rate of income tax and V.A.T.

Capital Gains tax should be graduated over 7 years like inheritance tax to encourage long term investment.

Why does this matter?

In order to cut down on the cost of bureacracy and make a fairer system.

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