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As part of the government’s ten-year tax administration strategy it is seeking views on how the legislation underpinning HMRC’s administration of the tax system could be updated. It asks how it could be simplified to:
- offer a better experience for individuals and organisations;
- provide opportunities to reduce the tax gap; and
- help build greater resilience and responsiveness to future crises.
According to HMRC a reformed framework is key to driving up productivity and innovation as the UK’s tax system becomes increasingly digital – allowing HMRC and taxpayers to benefit from advances in the use of technology and data.
In a related consultation HMRC is gathering evidence on the benefits and challenges of the current tax payment timings and for moving to more frequent in-year tax calculation and payment.
It focuses on income tax self assessment and corporation tax for companies outside the quarterly...
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