Chancellor George Osborne’s move to cut child benefit for higher-rate tax
payers could pile yet more pressure on an already creaking HMRC, which is facing
Child benefit to families with a parent earning over £44,000 annually will be
axed from 2013, producing an estimated saving of £1bn a year. However, instead
of these payments being stopped, the money will be clawed back through the PAYE
and self assessment systems.
The new system will add an extra layer of complexity to individuals’ tax
affairs and likely increase the strain on HMRC, which recently miscalculated to
the amount of tax owed by six million people. The taxman is currently undergoing
a significant cost-cutting program, due to be completed next year.
“There is a play-off between complexity and fairness,” Grant Thornton’s Mike
Warburton told the Telegraph.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
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