|
|
11 Mar 2011
TECHNOLOGY TRADE BODY BASDA has raised concerns over major changes planned for employees' tax system.
HM Revenue & Customs has proposed to connect banking systems with the pay as you earn (PAYE) tax system to provide the taxman with real-time information.
Further reading
BASDA said that while the idea has "merit", there could be problems with functionality.
BASDA said HMRC had not taken into consideration the technology reform that will be required by banks, as well as the internal restructuring needed in many organisations.
The new system would not be able to respond to future legislative changes, BASDA warned.
A consultation on real-time information recently closed and HMRC is proposing a change over date between 2012 and 2014.
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
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. 
Visitor comments Add your comment