TECHNOLOGY TRADE BODY BASDA has raised concerns over major changes planned for employees’ tax system.
HM Revenue & Customs has proposed to connect banking systems with the pay as you earn (PAYE) tax system to provide the taxman with real-time information.
BASDA said that while the idea has “merit”, there could be problems with functionality.
BASDA said HMRC had not taken into consideration the technology reform that will be required by banks, as well as the internal restructuring needed in many organisations.
The new system would not be able to respond to future legislative changes, BASDA warned.
A consultation on real-time information recently closed and HMRC is proposing a change over date between 2012 and 2014.
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