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ICAEW claims HMRC could be over-devolving with Scottish tax powers

HMRC could be stretching themselves too far and spreading themselves too thin by devolving the ability to raise taxes to Edinburgh, says

ICAEW.

Frank Haskew, tax faculty for ICAEW, expressed his concerns to the Treasury. He told them that there could be issues in needing HMRC to deliver various rates when the taxman is already dealing with decreasing and limited resources.

He did go on to say, however, that the devolution would receive support from ICAEW so long as any changes are workable and service quality would fail to suffer in the process.

Haskew explained:

“HMRC has limited resources and its budget and headcount continue to be reduced, the most recent example being the latest round of office closures [in which it was announced 14 offices would close].”

A certain level of power has already been given to North of the Border now, because from 2016 they are able to change the basic income tax rate over 10p per pound and will lead the way in several minor taxes, under the 2012 Scotland Act. The pledge would see Scotland with even greater powers in these areas.

It remains to be seen whether HMRC would be taking on more than it can chew. However, that doesn’t mean that UK businesses should think they would be less under the tax body’s radar. Rule changes aside, any other news regarding HMRC shouldn’t affect how a business keeps his books as they should always be keeping things in order. Enlisting the help of an accountant in the Wirral would be a wise move for local businesses.

Posted by Louise
November 10, 2014
HMRC

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