Association of Accounting Technicians Comment on General Election 2019 Result

Phil Hall, Head of Public Policy & Public Affairs at AAT comments on the large Conservative Party majority in the General Election 2019.

“Whilst most commentators are concentrating on the implications of a large Conservative majority for Brexit, it’s important to note that this presents a fantastic opportunity for bold reform in a number of domestic policy areas.”

In relation to business policy, Hall said:

“The Conservatives manifesto commitment to “review and reform” Entrepreneur’s Relief should be swiftly put into action; the repeatedly promised and long overdue reform of business rates needs to be kickstarted and much more significant action on tackling the multi-billion pound late payments problem should take place if the Conservatives are to meet their pro-business promises.”

In relation to tax reform, Hall added:

“AAT would like to see a Conservative Government go much further on their proposed Plastic Packaging Tax, to give serious consideration to reforming Stamp Duty and to thoroughly examine how to improve the effectiveness, fairness and simplicity of Inheritance Tax – AAT has previously suggested scrapping the numerous inheritance tax exemptions and reliefs and simultaneously halving the headline rate from 40% to 20%.”

Kindly shared by Association of Accounting Technicians (AAT)