HMRC should implement a complete overhaul rather than making incremental tweaks, writes Daniel Lusted (BDO).
HMRC’s ongoing Tax Administration Framework Review was initially intended to help create a ‘trusted modern tax administration’ but more recent efforts are also driven by the HMRC’s response to a surge in inaccurate tax returns and claims that it sees as draining public funds and the adoption of online filing.
The latest tax gap is estimated at £39.8bn and has increased over recent years. While HMRC already have many powers assist them in closing this gap they are often time consuming to use with a disproportionate impact on taxpayers. To address this HMRC proposed several reforms in its 30 October 2024 consultation document The Tax Administration Framework Review: enquiry and assessment powers penalties safeguards. These include requiring more upfront information for claims streamlining Revenue Correction Notices...
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HMRC should implement a complete overhaul rather than making incremental tweaks, writes Daniel Lusted (BDO).
HMRC’s ongoing Tax Administration Framework Review was initially intended to help create a ‘trusted modern tax administration’ but more recent efforts are also driven by the HMRC’s response to a surge in inaccurate tax returns and claims that it sees as draining public funds and the adoption of online filing.
The latest tax gap is estimated at £39.8bn and has increased over recent years. While HMRC already have many powers assist them in closing this gap they are often time consuming to use with a disproportionate impact on taxpayers. To address this HMRC proposed several reforms in its 30 October 2024 consultation document The Tax Administration Framework Review: enquiry and assessment powers penalties safeguards. These include requiring more upfront information for claims streamlining Revenue Correction Notices...
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:
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