Tax & Accounting News

Institute’s warning over Revenue powers

04/06/2010

Tax advisers have expressed concern over proposals to increase the powers HM Revenue and Customs (HMRC) has in its armoury to tackle tax avoidance.

The Liberal Democrat manifesto had proposed giving new powers to HMRC, and those proposals have now been adopted by the new coalition government.

However, a recent survey by the Chartered Institute of Taxation (CIOT) found that 55 per cent of advisers already thought the volume of information being requested and the time provided for responses was unfair.

The CIOT has called for the government to allow more time for the new powers given to HMRC last year to bed in before making any further changes.

It also called for greater clarity over which processes HMRC use under different circumstances, such as formal or informal use of powers, information notices or inspections.

There have also been concerns raised over HMRC’s ability to implement the new rules fairly at a time when the department is facing cuts to its budget.

 

Print page