Review of the Budget by James Bullock and Jason Collins
‘The country has over-spent it has not been under-taxed’. The Chancellor's statement in his Budget Speech perhaps heralds a new measured approach to tax and tax compliance more generally. In particular a joint document from HM Treasury and HMRC entitled ‘Tax policy making: a new approach’ suggested there will be increased dialogue between taxpayer and State over the formulation of tax policy. If the Coalition follows through on this the implications could be less ill-drafted legislation and therefore less uncertainty around compliance and ultimately less litigation.
However this is not to say that HMRC will be diluting its efforts to tackle non-compliance generally. Far from it – coupled with the potentially clearer approach to tax policy the Government also announced it would ‘examine whether as one element...
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Review of the Budget by James Bullock and Jason Collins
‘The country has over-spent it has not been under-taxed’. The Chancellor's statement in his Budget Speech perhaps heralds a new measured approach to tax and tax compliance more generally. In particular a joint document from HM Treasury and HMRC entitled ‘Tax policy making: a new approach’ suggested there will be increased dialogue between taxpayer and State over the formulation of tax policy. If the Coalition follows through on this the implications could be less ill-drafted legislation and therefore less uncertainty around compliance and ultimately less litigation.
However this is not to say that HMRC will be diluting its efforts to tackle non-compliance generally. Far from it – coupled with the potentially clearer approach to tax policy the Government also announced it would ‘examine whether as one element...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
