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18 Jul 2008
The National Audit Office (NAO) yesterday warned a £2.7bn investment designed to transform the way HM Revenue & Customs (HMRC) works may not pay off.
The warning comes as the department announced it was postponing its new PAYE payroll tax system amid concerns it would not be ready to handle the necessary volume of transactions by its original October launch date.
The system is part of a wider £11.5bn savings programme, driven by the department's need to cut running costs by almost 15% over three years as part of an efficiency drive across government.
NAO warned yesterday that HMRC’s estimates of additional tax yield were volatile and assumed collection in full. Parts of the programme were revised and postponed, and ‘the overall benefits carry high levels of uncertainty’.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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