Flat rate Corporation Tax

... base it on turnover, with only bad debts as allowable expenses.

Further, scrap PAYE so all wages are tax paid in full (having been taxed on the turnover of the employer). Just need some type of formula to average the last say 3 months net pay, pro-rate up to 12 months and have that replace the previous gross pay in contracts.

Harder to avoid, and simpler to police (turnover can be checked through VAT compliance), will stop firms spending wastefully as it won't reduce their tax bill and will stop the big firms using loss leaders to screw over the smaller firms.

We could then get shot of most of HMRC direct tax bods and accountants could concentrate on helping their clients manage their businesses effectively rather than endlesly filling mindless forms and sweating over draconian penalties for missed deadlines. (would still need to prepare accounts for companies house/credit scoring etc.).

You could then also have it payable monthly or quarterly to boost treasury cash flow!

For close private companies you could have a "personal allowance" of say £30,000 per working director which is CT exempt.

Go further, and bring sole trades and partnerships in and scrap CT and have Business Tax, leaving IT for unearned income.

Could complicate it a bit, but may be have different rates for different industries a la flat rate VAT! 

Will never happen though, Tesco's and their ilk will never agree to paying a fair share of tax! 

I love the idea of flat rate taxation

Flat rate Corporation Tax

Flat rate income tax (and absolutely no other government stealth taxes - no vat, no fuel duty etc.)

If we absolutely have to have government levies added to items (to try to influence behaviour), that money should be legally ring fenced for use in resolving the issues raised for example fuel duty ring fenced for road maintenance, road police and research into new technologies for reducing our reliance on fossil fuels.

There should probably be a legally enforced limit of 50 items across the entire economy that could have duty added to them at a time.  Successive governments can adjust the 50 across their priority areas, but any party in government that initiates duty on more than 50 items must be disbanded for 100 years and all MPs and party members of that party receive a life time ban from involvement in politics.

I am always amazed how quickly short term initiatives like income tax or vat to 20% become the status quo.

Anyone want to join my political party ;-)