Cash and digital payments in the new economy: call for evidence
The LITRG believes that the government must continue to allow the use of cash as a choice and make sure that cash does not become a more expensive alternative to using digital payments as this will impact low-income households and more vulnerable groups in society, possibly causing further financial hardship or debt. Steps must also be taken to ease accessibility to digital payments for low-income households as well as to encourage tax education in order to improve social and ethical morality with regards to tax evasion and the use of the hidden economy.
It is important the government tackles the perception of the general public that ‘big businesses’ and wealthy individuals receive more favourable tax treatment through the current tax system. Until this perception is tackled, it will be harder for the government to increase the general public’s social and ethical morality in relation to tax compliance.
The consultation document can be found on GOV.UK.
Our submission can be found here: Cash and digital payments in the new economy – LITRG response