Taxman to fund Phd research

The taxman is to roll out funding to Phd students and other research experts as part of a new plan to encourage academics to contribute to tax decision-making and strategy formulation.

Researchers will now be able to pitch their research proposals to HM Revenue & Customs and then bid for financial backing.

HMRC will pay out its first round of funding in April next year.

'This process will allow a wider network of experts to influence the development of HMRC's evidence base… generally the analytical focus is generated within HMRC based on departmental business objectives and evidence needs.

'We are now inviting an external audience to initiate research ideas,' HMRC said in a statement.

There is currently no budget set for the project.

HMRC officials will review all proposals and assess whether a business case should be made to bid for funds.