Budget  

What tax changes could be on the Budget cards?

  • Describe some of the principles of the UK tax system
  • Explain the core concepts introduced by Adam Smith
  • Explain the challenges with raising CGT
CPD
Approx.30min

By

In conclusion, managing the country’s taxes in an efficient and equitable way while attaining the other yardsticks mentioned above and galvanising the society towards achieving significant investment and growth levels is a monumental challenge for the new government.

It will involve a few years of focused, disciplined and striving performance to steady the ship. It is also fraught with fierce political debate and needs strenuous efforts to maintain public support throughout.

Article continues after advert

Roxanne Ameli is a tax accountant 

CPD
Approx.30min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Which of the following is NOT a potential consequence of an increase in GDP of 0.5 per cent?

  2. How much of the tax take is made up of the following taxes: income tax, national insurance contributions, VAT, and company taxes?

  3. An annual wealth tax has currently been ruled out, true or false?

  4. Which of the following is NOT one of Adam Smith's cardinal rules?

  5. Which of the following people would NOT be affected by equalising capital gains with income tax?

  6. Governments in higher rate tax countries have been genuinely concerned about the erosion of their tax revenue bases by competition from much lower rate tax countries, true or false?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe some of the principles of the UK tax system
  • Explain the core concepts introduced by Adam Smith
  • Explain the challenges with raising CGT

I completed this CPD in

To bank your CPD please complete the form below.

Were the stated learning objectives met?

Why weren't they met?

What did you learn from undertaking this CPD exercise?

Why did you undertake this piece of learning?

Any comments about this article or FTAdviser's CPD in general?

Banked!

Congratulations, you have successfully completed and banked this piece of CPD

Already Banked!

You have already banked for this article.

To bank your CPD you must or

Register

One or more questions have been incorrectly answered,
 please review your answers and try again.

By submitting these answers I confirm that I have
read and agreed to the terms and conditions

Please complete all the above text fields to bank your CPD.

More Investments CPDSee my completed CPDSee all CPD

More on Budget