Spending review 'cannot afford' damage to tax collection
The Treasury's budget is in the "unprotected" category, and advisers are hoping that the Comprehensive Spending Review will not affect the department
The Chancellor will unveil the Comprehensive Spending Review later today and advisers are hoping that tax policymakers and collectors will be spared from the cost-cutting.
The Treasury’s budget is in the “unprotected” category,according to Saffery Champness so cuts cannot be ruled out in this area.
Ronnie Ludwig, partner at Saffery Champness said:
“Changes to the Treasury budget are perhaps one of the most difficult to predict, as the department has a revenue-generating role.
“The coalition will need to walk a fine line between finding efficiencies and ensuring that cuts do not impinge upon the ability of HMRC to collect vital tax revenues.”
Further reading:
Small business hit hard by spending review