Friday, August 29, 2008

Cross Tax

The current edition of HMRC's Agent Update introduces something new to the tax vocabulary. ‘Cross Tax”.

Does it mean:
a) What you get when HMRC staff are overstressed and unhappy?
b) A big balancing payment that a client wasn't expecting to have to pay; or
c) 'Across the taxes’ as opposed to applying to just one area, such as corporation tax?

The answer is (c).
Under this heading come updates on the Anti-Avoidance Simplification Review and further information on New Powers as well as news that HMRC will stop issuing 'Reply Paid' Business Response Envelopes from 1 October 2008, with the exception for those issued for benefits and credits. Taxpayers must now do it all online. And they may not all be happy about that. Maybe 'Cross Tax' is the right expression after all.
Post a Comment