Our vision

Closing loopholes

Closing Loopholes sets out a plan to close loopholes and reduce unfairness in the tax system.

A pink strip at the top of the paper with the words: "Centre Think Tank ISSN 2634-4696". The paper title is "Closing loopholes: Closing tax loopholes and creating a fairer tax system". Below this is a light purple section with a document on. The document contains the word "tax" and a pen with a pink arrow moving up and down away from it. Briefing paper. By Torrin Wilkins, October 24th 2022. At the bottom is a white strip with the Centre logo in pink beneath and the words "commissioned by" with a multi coloured vortex and the words next to it "True and Fair we deserve better".

Closing loopholes: Closing tax loopholes and creating a fairer tax system

This paper makes the case that the UK needs to go further to create a fairer tax system. To achieve this, the paper sets out a range of measures, including reforming non-dom status, transparency measures for companies, and clamping down on loopholes, such as the carried interest loophole.
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Quick summary

  • Through leaked papers, the public has seen the scale of tax avoidance and evasion. Closing tax loopholes is an issue that unites political parties and the public.
  • Political parties should learn both from each other and from the Nordic countries. This will help to develop the political consensus that has been built around the need to tackle loopholes and tax avoidance.
  • The government should close the carried interest loophole, which would raise £400 million.
  • Clamping down on umbrella agency tax evasion and avoidance would raise £200 million.
  • The government should ensure HMRC has the information and capacity to tackle tax avoidance. Alongside extra HMRC funding to investigate tax avoidance, this would raise £2.8 billion.
  • The existing non-domicile system should also be replaced with a domicile pathway. This would reduce the time individuals can stay in the UK without paying tax on their full income, raising £2.19 billion.
  • Taken together, these measures would raise £5.59 billion.

Authors

Torrin Wilkins

Director and Founder

Torrin is the Founder and Director of the Centre. His experience includes authoring over a dozen papers and over one hundred policies. His policies have been backed by an All-Party Parliamentary Group of over 260 MPs and included in various party manifestos. He regularly appears in a wide range of print and broadcast media and previously had a weekly column for a national publication. He also has a degree in Political Studies from Aberystwyth University.

Foreword

Gina Miller

Former Leader of the True and Fair Party

Gina co-founded investment company SCM Direct and founded the True and Fair Campaign. She also won two legal challenges against the UK Government in 2017 and 2019, most famously during the Brexit negotiations. Gina was also the Leader of the True and Fair Party and a Parliamentary Candidate for Epsom and Ewell in 2024.

Coverage

A red circle with a white eagle. Next to this is the word INDEPENDENT.

Demand for clampdown on tax loopholes as True and Fair Party unveils first candidates

"She said that reforms to tax policy and improved funding for HM Revenue and Customs could bring in £5.6bn a year – enough to pay for nearly 170,000 nurses."
Read More
A red box with the word "Mirror" in.

Gina Miller launches campaign to personally oust ‘failing’ Tory Chris Grayling

"The anti-corruption campaigner said the government could raise £5.6bn by closing tax loopholes - enough to fund the salaries of 160,000 new nurses."
Read More
The word "Linde" in blue with a yellow circle in the background.

Multilateral Cooperation in Tax Law. Series on International Tax Law, Volume 135

"Torrin Wilkins, ‘Closing Tax Loopholes and Creating a Fairer Tax System’, Centre Think Tank (24 October 2022)."
Read More
A red circle with a white eagle. Next to this is the word INDEPENDENT.

Demand for clampdown on tax loopholes as True and Fair Party unveils first candidates

"She said that reforms to tax policy and improved funding for HM Revenue and Customs could bring in £5.6bn a year – enough to pay for nearly 170,000 nurses."
Read More
A red box with the word "Mirror" in.

Gina Miller launches campaign to personally oust ‘failing’ Tory Chris Grayling

"The anti-corruption campaigner said the government could raise £5.6bn by closing tax loopholes - enough to fund the salaries of 160,000 new nurses."
Read More
The word "Linde" in blue with a yellow circle in the background.

Multilateral Cooperation in Tax Law. Series on International Tax Law, Volume 135

"Torrin Wilkins, ‘Closing Tax Loopholes and Creating a Fairer Tax System’, Centre Think Tank (24 October 2022)."
Read More

Commissioned by

True and Fair Party

The True and Fair Party is led by Gina Miller and is standing candidates in both England and Wales. They support cleaning up politics, modernizing democracy, and fighting corruption.

True and Fair Party

The True and Fair Party is led by Gina Miller and is standing candidates in both England and Wales. They support cleaning up politics, modernizing democracy, and fighting corruption.

Outcomes

Party support for the policies

True and Fair supported the policies we proposed in the paper. They also called on the government to implement the reforms to non-dom status in the media.

Cadidate announcements

The new policy was used as the main policy announcement alongside the launch of the first True and Fair Party candidates. This included the Party Leader, Gina Miller, who announced the seat she was standing in.

Party support for the policies

True and Fair supported the policies we proposed in the paper. They also called on the government to implement the reforms to non-dom status in the media.

Cadidate announcements

The new policy was used as the main policy announcement alongside the launch of the first True and Fair Party candidates. This included the Party Leader, Gina Miller, who announced the seat she was standing in.