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Accounting for Tax Credits

 
Robin Williamson Technical Director of the Low Incomes Tax Reform Group (LITRG) considers why the Comptroller and Auditor General has qualified the Board's accounts in respect of tax credits
 
Annexed to the Annual Report and Accounts of the Board of Inland Revenue for the year ended 31 March 2004 is the Comptroller and Auditor General's Standard Report 2003–04 the purpose of which is stated in paragraph 1 of the Executive Summary:
 
'Section 2 of the Exchequer and Audit Departments Act 1921 requires me to examine the accounts of the Inland Revenue on behalf of the House of Commons to ascertain that adequate regulations and procedure have been framed to secure an effective check on the assessment collection and proper allocation of revenue and that they are being...

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