ASB-3212 Taxation 2012/13

ASB-3212 Taxation 2012/13
Assignment question
In 2006 the Institute for Fiscal Studies (IFS) set-up a major review of the UK tax system known as the Mirrlees review, named after its chairperson, Sir James Mirrlees. The review was formally announced in 2008 and was published in two volumes.It suggested a number of improvements to the tax system.
One of its recommendations was the possibility of merging the benefit and income tax systems into one system, and is discussed in the second volume of the review entitled ‘Tax by Design’.
Requirement:
1. Read chapter 5 entitled ‘Integrating Personal Taxes and Benefits’ (pp. 122 – 147)from the second volume of the Mirrlees review. A copy of the second volume can be found on Blackboard in the ‘Assignments’ folder.
A full copy of the report (volumes one and two) can be found by following the link below, but this is for information only and you are not required to read both volumes for the purposes of the assignment:
http://www.ifs.org.uk/mirrleesReview
2. Evaluate the recommendation to integrate both the benefit and income tax systems into one system (as described in chapter 5). Your evaluation should include:
a) A description of the current system (benefit and income tax systems in general);
b) a description of the proposed recommendation;
c) the purpose for merging both systems;
d) your opinion on the strengths and weaknesses of such action; and
e) a description and explanation of the type of potential winners and losers of such a move (certain groups of individuals and/or organisations).

Additional marks will be provided for:
i. Strength of your evaluation;
ii. other relevant points made by you as part of your evaluation;
iii. inclusion of relevant theories and concepts to support your work; and
iv. use of referencing to other academic research relevant to this particular topic.
Word count: maximum 2,000 words (not including bibliography)
Due date for submitting hardcopy and for submitting a copy via Turnitin:22 March 2013

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