New earnings tax

The Chancellor, George Osborne, has commissioned a study into the possible merger of income tax and National Insurance, which could lead to the creation of a single "earnings tax". The move would represent one of the biggest shake-ups of the tax system for decades.

The Chancellor had considered merging the two taxes in the final Budget of the last Parliament but decided not to amid concerns about problems linking the two IT systems say Harris & Co chartered accountants Northampton