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IFS Reports
February 1994 R44
Article
A summary of the final report of the IFS capital taxes group, 'Setting savings free: Proposals for the taxation of savings and profits'
Type: IFS Reports
Volume, issue, pages: 62 pp
ISBN: 978-1-873357-38-5
IFS member price: £5
Non-member price: £10

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The taxation of savings in the UK is in a mess and the IFS Capital Taxes Group, set up in 1987 and chaired by Malcolm Gammie of Linklaters & Paines, makes proposals which would considerably simplify the system. Its two principal proposals, which are outlined in this report, are for an extension of the current PEP and TESSA regimes to all personal savings and the introduction of an allowance for the cost of equity finance.

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