THE TAXMAN’S plans for managing PAYE has been slammed as “unwise and ill-conceived”.
Proposals have been made by HM Revenu & Customs to gather real time information for tax and universal credit purposes through the BACS system but experts have dismissed the idea.
Donald Drysdale, assistant director of tax at ICAS, said: “Given that HMRC have failed to cope with the task of reconciling PAYE and National Insurance Contributions annually, there is no reason to believe that they would be any more successful in clearing the much greater number of reconciliations potentially arising on a monthly or weekly basis under real time information (RTI).”
ICAS cites the recent troubles that have hit PAYE systems as proof that a switch to RTI will fail to work.
The taxman intends to notify software developers of RTI information by the end of March. Tests with a limited number of employers will then staged before a full scale roll-out.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy