Details of PAYE (income tax and NICs) and corporation tax receipts from the banking sector will be published for the first time on 31 August, HMRC announced.
With effect from 9 August any payments directed to HMRC’s Bank of England accounts will be rejected by the banking system and returned to the payer’s account, HMRC announced.
The Treasury Committee report that drew a public apology from HMRC chairman Mike Clasper at the weekend warned that sustained cuts to resources, and a management culture of ‘command and control’, have contributed to a decline in service delivery standards.
The Treasury Committee is to take further evidence with a view to establishing how HMRC can achieve better accountability around the settlement of large tax cases involving corporations, which the committee described as a ‘particular source of controversy’.
A leading professional body has cast doubt over whether HMRC have the resources or capability to improve service standards, after a committee of MPs found ‘considerable dissatisfaction’ with HMRC’s service to taxpayers and benefit claimants.
A tax relief for disincorporation of small businesses and a system of flat rate expenses allowances for the smallest businesses are among options for reform being suggested by the Office of Tax Simplification.
Eloise Bunnetat provides a refresher guide to statutory and non-statutory clearances for company reorganisations