Comments on the draft legislation must now be submitted to the government by 24 February 2003, but accountants are already disillusioned by the government’s lack of action.
Chas Roy-Chowdhury, head of tax at the Association of Chartered Certified Accountants, described the Revenues approach as ‘blinkered’ and said he was disappointed the government has not engaged the profession on discussions over the controversial tiered stamp duty rise system.
Kevin Griffin, director of Ernst & Young’s stamp taxes group, said the Revenue had taken a ‘simple, if somewhat quirky, 300 year old tax and “modernised” it, producing over 60 pages of complex legislation.’
Griffin continued by saying that by the time the full legislation is implemented – due for late 2003 – tax payers may have only 30 days to get things right or face penalties.
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said