Budget 2010: £5.1bn bill for collecting the exchequer's tax
Government beating its tax burden targets
The annual administrative burden of tax legislation on business runs to a
hefty £5.1bn and the government has set out targets for bringing it down,
according to Budget papers released today.
The government wants to bring down the overall cost by 10% (amounting to
£510m) and cut the burden of dealing with HMRC forms by 10% over five years (or
£337m).
Lastly the government aims to reduce the burden on compliant business of
dealing with HMRC audits. That will be £35m over the next five years.
Government papers said: “we continue to make good progress against these
targets despite new challenges faced over the last year.”
the report said the situation has improved since the Budget in 2009 even
exceeding the targets in some cases.