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Tax credits: a decreasing burden on employers?
Author(s) -
Swan Phil,
Lightowlers Kirsty
Publication year - 2003
Publication title -
in practice
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.211
H-Index - 25
eISSN - 2042-7689
pISSN - 0263-841X
DOI - 10.1136/inpract.25.6.356
Subject(s) - exchequer , tax credit , revenue , business , ad valorem tax , indirect tax , tax revenue , tax reform , public economics , finance , economics , law , political science , politics
TWO new tax credits were introduced in April, having been announced by the Chancellor of the Exchequer in last year's Budget. The Inland Revenue claims that these new credits ‐ which have replaced the Working Families and Children's Tax Credits ‐ are intended to lessen the administrative burden on employers. In this article, Phil Swan and Kirsty Lightowlers explain how the new tax credits differ from the previous schemes, and speculate on what impact they are likely to have on practice owners.