CM – £ 1bn education tax cash not spent

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The government is facing new calls for a revision of the education tax after it has been discovered that more than £ 1 billion has recently been unspent by companies.

The expired dues in the nine months since last May was a record amount, surpassing the £ 847 million returned to the government between May 2019 and last April.

Make UK, the manufacturing trade organization, said the spike in unused money was telling the government should cause the system to be revised to ensure that better use is made of the tax funding, especially as the economy begins to recover from the aftermath of the coronavirus pandemic.

Following the levy introduced four years ago, employers will have to use a Pay the equivalent of a payroll of more than GBP 3 million

Ref: https://www.thetimes.co.uk

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