Tax Administration Framework Review - Supporting a 21st century tax system
Fundamental elements of the tax system could be set to change in the biggest shake up since self assessment was launched in the last millennium.
Fundamental elements of the tax system could be set to change in the biggest shake up since self assessment was launched in the last millennium. The government's call for evidence on the tax administration framework review (TAFR), published on Tax Day, 23 March 2021, goes much further than a possible updating of Taxes Management Act 1970.
Significant changes are being proposed to how taxpayers and agents interact with the tax system and HMRC including:
- How taxpayers and agents are identified
- How registration and deregistration with the tax system could work
- How taxes are established and assessed
- So almost nothing is off the table.
HMRC's use of data and the evolving roles and responsibilities of taxpayers, HMRC and third parties are in scope as are powers and safeguards. Join Anita Monteith, Caroline Miskin and Richard Jones to delve into the call for evidence and help develop ICAEW's response.
Broadcast on 5 May 2021