Weekly Tax Update - Monday 21 November 2011
Mondaq Business Briefing › United Kingdom Law Articles in English (2011)
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Weekly Tax Update - Monday 21 November 2011
1. General news
1.1. Modernising the administration of the personal tax system: Tax Transparency for Individuals The Government has issued a discussion document which suggests how increased transparency and accessibility to tax information can build greater awareness and understanding of how the system works and how individuals can take a more active role in ensuring they pay the right tax. This consultation seeks feedback and ideas for how the administration of the personal tax system could be improved to achieve better understanding and make it easier for customers to deal with it. The paper includes the interesting possibility of pre-populating tax returns with information already held by HMRC: "Pre-filling of information in returns is widely used by tax authorities in other countries to reduce the burden on individuals. The tax authorities do not require individuals to fill in information about income that the authority is able to obtain directly from the source, for example, details of salary and tax deducted by employers or details of investment income from a bank. The Danish authorities believe that pre-filling tax returns with information already held by the tax authority gives its taxpayers greater assurance about the accuracy of their return and saves them time as they only have to provide information that the authority is not able to receive directly from the payer of the income. The Danish also think that pre-filling tax returns has helped improve tax compliance by its citizens through greater engagem...See the full content of this document
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