Overview
Drop proposed basis period reform, urges ICAEW
- Article
- 31 Aug 2021
Pushing through proposals to change basis periods ahead of the expansion of Making Tax Digital will cause as many problems as it solves and would be a backwards step for affected businesses, warns ICAEW.
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Registration
Identification and registration of taxpayers must be a priority, says ICAEW
- Article
- 13 Jul 2021
- Caroline Miskin
A single identifier for individuals and smoother registration processes are pre-requisites for a better tax system, argues ICAEW. HMRC also needs funding to develop an improved process for registering, authenticating and authorising agents.
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Reporting and calculation
Join up HMRC systems to provide a better taxpayer experience, says ICAEW
- Article
- 13 Jul 2021
- Caroline Miskin
ICAEW has identified the need to establish income tax, national insurance and capital gains tax liabilities in a single system as a priority for the Tax Administration Framework Review.
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Payment and repayment
In-year tax estimates wouldn’t be an accurate basis for payment, warns ICAEW
- Article
- 13 Jul 2021
- Caroline Miskin
ICAEW considers HMRC’s call for evidence on timely payment to be premature, as earlier payment of income and corporation tax would reduce businesses’ flexibility to manage their cashflow.
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Powers and safeguards
Make better use of existing HMRC powers, urges ICAEW
- Article
- 13 Jul 2021
- Richard Jones
ICAEW’s Tax Faculty has called on HMRC to make better use of the rights it already has to investigate tax affairs and shift the perception of how it handles enquiries, before the government considers granting additional powers when reforming the UK’s tax administration system.
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