<\/p>\n
Katie Close: concern over fiscal drag<\/p>\n
Income tax and national insurance are regarded as the taxes most in need of reform, according to a survey of accountants.<\/p>\n
Twice as many chartered accountants (39%) named both levies above business rates (17%), council tax (16%) and inheritance tax (10%).<\/p>\n
The Institute of Chartered Accountants of Scotland (ICAS) poll indicates rising alarm across the profession about the impact of personal taxation on individuals, businesses and the wider economy.<\/p>\n
It is also a time when economic confidence is already fragile and questions over Scotland\u2019s tax competitiveness are intensifying.<\/p>\n
One ICAS member said \u201cwe cannot tax ourselves into growth\u201d, while another stated \u201cwe need to simplify income tax and tax thresholds\u201d.<\/p>\n
The survey results also show a clear call from chartered accountants for the new Scottish Government to use its first six months to set out a credible long-term plan for economic growth and sustainable public finances. <\/p>\n
When asked what would best support that growth, respondents identified targeted tax incentives, alongside greater stability and simplicity in the tax system as the reforms most likely to make a meaningful difference.<\/p>\n
One ICAS member commented: \u201cA realistic plan focusing on economic growth and making Scotland attractive to inward investment and talent are vital to our future success.\u201d<\/p>\n
Katie Close, director of tax at ICAS, said: \u201cThe strength of feeling around income tax and national insurance reflects the growing impact of fiscal drag, with frozen thresholds pushing more people into higher tax bands while eroding their real spending power.<\/p>\n
\u201cIn Scotland, a complex system of multiple tax bands and steep cliff edges means some taxpayers now face higher marginal rates than elsewhere in the UK, a gap that risks undermining incentives, investment decisions and overall competitiveness. That is why accountants are calling for meaningful reform.<\/p>\n
\u201cWhat is clear is that the profession wants a Scottish Government committed to long-term economic growth and sustainable public finances, underpinned by stable, predictable and pro-business tax policy.\u201d<\/p>\n
Confidence in the Scottish economy remains subdued among chartered accountants, with more than three quarters (77%) reporting a lack of confidence.<\/p>\n
The findings echo ICAS\u2019 survey published after the Scottish Budget, suggesting that economic concerns identified earlier this year have yet to be addressed.<\/p>\n
Gail Boag: we <\/p>\n
Gail Boag, ICAS CEO, said: \u201cThe next five years will be pivotal for Scotland. The country is grappling with economic inactivity, weak growth, skills shortages, global uncertainty, and a rising budget deficit.<\/p>\n
\u201cOnly long-term, ambitious policy making will unlock the investment and sustainable growth the country needs.<\/p>\n
\u201cA stronger economy and a broader tax base depend on creating the right conditions for people and businesses to succeed.<\/p>\n
\u201cThat means stable, predictable policy, a tax system shaped in genuine partnership with business, and real improvements in essential public services such as education, health, childcare, transport and housing.\u201d<\/p>\n
\t #income #tax #reform #poll #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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