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ICAEW Insights special

Building a better tax system for the UK

As HMRC embarks on a 10-year review of tax administration, ICAEW examines the potential opportunities and challenges to reforming the UK's tax system to be fit for a digital future.

More on the future of tax
Building a better tax system for the UK - the potential implications of HMRC's consultation on the Tax Administration Review Framework
Overview

HMRC needs more resource to rebuild the UK's tax system

  • Article
  • 13 Jul 2021
  • Anita Monteith
ICAEW welcomes HMRC’s vision of a more flexible and responsive tax system outlined in the Tax Administration Framework Review but warns that significant challenges, such as creating a single identifier for taxpayers and consolidation of tax systems, can only be met if HMRC is properly resourced.
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Registration

Identification and registration of taxpayers must be a priority, says ICAEW

  • Article
  • 13 Jul 2021
  • Caroline Miskin
A single identifier for individuals and smoother registration processes are pre-requisites for a better tax system, argues ICAEW. HMRC also needs funding to develop an improved process for registering, authenticating and authorising agents.
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Tax Administration Framework Review - Registration of taxpayers and agents
Reporting and calculation

Join up HMRC systems to provide a better taxpayer experience, says ICAEW

  • Article
  • 13 Jul 2021
  • Caroline Miskin
ICAEW has identified the need to establish income tax, national insurance and capital gains tax liabilities in a single system as a priority for the Tax Administration Framework Review.
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Tax Administration Framework Review - Reporting and calculation of tax liabilities
Payment and repayment

In-year tax estimates wouldn’t be an accurate basis for payment, warns ICAEW

  • Article
  • 13 Jul 2021
  • Caroline Miskin
ICAEW considers HMRC’s call for evidence on timely payment to be premature, as earlier payment of income and corporation tax would reduce businesses’ flexibility to manage their cashflow.
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Tax Administration Framework Review - Payment and repayment of taxes
Powers and safeguards

Make better use of existing HMRC powers, urges ICAEW

  • Article
  • 13 Jul 2021
  • Richard Jones
ICAEW’s Tax Faculty has called on HMRC to make better use of the rights it already has to investigate tax affairs and shift the perception of how it handles enquiries, before the government considers granting additional powers when reforming the UK’s tax administration system.
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Tax Administration Framework Review - Powers and safeguards

Read ICAEW responses in full

The Tax Faculty has responded to HMRC's consultations on TAFR and timely payments on behalf of ICAEW. You can read these detailed responses in full.

Response on TAFR Response on timely payments