Closed petition A Flat income tax rate

Closed on 15 August 2012

Simplification of the tax system; a flat 10% tax on income for everybody

A percentage is, in its nature, relative to everyone and higher taxes on higher earners give reason and motivation to send money abroad and evade paying tax altogether. A flat tax would be a system that would remove the need to evade taxes or to remove the money from the UK market freeing up capital for re-investment. It would encourage high value & emerging individuals to bring their expertise (and jobs) to the UK.

This does not necessarily mean that the tax free allowance would need to be changed so this would still allow the Government to make provisions for those at the lowest incomes.

Whilst it may seem counter intuitive to charge less as a % on those that earn more - very few of those charged the highest tax rates end up paying, instead taking and spending their money elsewhere. Money which could have been spent in the UK providing more jobs and more business opportunities.