Taxing wealth fairly and efficiently – new options. 8 February 2021
On 7th December 2020 the independent Wealth Tax Commission produced its final report after 6 months of examining the case for a wealth tax in detail. There were over 35 background and evidence papers produced by a wide range of practitioners, academics, former HMRC officials and economists examining the experiences of foreign countries, the difficulties of valuation, challenges of administration and overall design as well as the economic case for and against an annual wealth tax. Emma Chamberlain, Barrister, and Dr Arun Advani were two of the co-authors of the final report that rejected an annual wealth tax but recommended that if the government eventually needs to raise substantial revenue to pay for the cost of COVID as an exceptional measure then a one off wealth tax should be considered subject to certain conditions.
They present the findings of their report in this seminar, looking at why the project was started, and how they reached their conclusions as well as wider questions about the taxation and distribution of wealth in the UK. They will be happy to take questions. For those interested in reading some of the findings in advance and particularly answers to some common objections read https://www.wealthandpolicy.com/wp/WealthTaxFinalReport_FAQ.pdf