Improving the UK Taxation System: A Detailed Analysis

This project report provides a comprehensive analysis of the UK taxation system, examining its current structure, various tax types, and revenue collection methods. The research delves into the existing literature to understand the system's impact on economic factors, including investment, savings, and charitable donations. The study identifies key areas requiring improvement, such as adapting to the changing economic landscape and the impact of the COVID-19 pandemic. It explores the challenges associated with implementing tax reforms, including policy choices and political trade-offs. The report also investigates the role of tax evasion and avoidance, along with the importance of ethical conduct and money laundering regulations. The aim of the report is to determine areas needing improvement in the UK taxation system, with objectives to understand the current system, identify areas for change, analyze challenges, and recommend mitigation strategies. The literature review covers the current taxation system, areas needing change, and challenges in introducing reforms. The report uses a case study approach to offer recommendations for improving the UK taxation system.