Pharmacist wins CIOT “If I were Chancellor” competition A pharmacist, Mr Ashwin Tanna FRPharmS, won the Chartered Institute Of Taxation’s (CIOT) “If I were Chancellor” competition. The competition is part of the celebrations to mark the CIOT’s 75th Anniversary. Mr Tanna argued for a change in stamp duty. Under his system, the duty increases smoothly according to the value of the property. Mr Tanna argued that this would encourage “first-time buyers to take the plunge”.
Commenting on the winner, CIOT President Peter Kempster said: “Mr Tanna’s entry, which proposed stamp duty land tax should be assessed on a ‘step basis’ rather than a ‘slab basis’, has been advocated often by the CIOT in past representations to the tax authorities.”
The competition asked: What single change to the UK tax system would you make if you were Chancellor of the Exchequer for the day, and why?
Peter Kempster continued: “There were many excellent entries, with well thought out arguments for changes to the tax system.”
As the winner, Mr Tanna received two complimentary tickets to see Pericles at Shakespeare’s Globe and two magnums of champagne.
Presenting the prize to Mr Tanna at the Shakespeare’s Globe, CIOT Deputy President, John Cullinane, said: “Congratulations. We at the CIOT are delighted to be acknowledging your initiative in putting forward a proposal for a fairer and more effective stamp duty land tax system."