HMRC ‘Modernising the Tax System’, HM Treasury ‘Next Steps’, P11D Penalty Notices, RTI Information, Case Law CornerMonday, November 21st, 2011
There were two interesting consultation papers issued last week. Mind you, the term ‘interesting’ is very subjective and I am aware that this may be viewed as a sad reflection on my life! Nevertheless, both are important, one from HMRC and the other from HM Treasury, running in parallel. The Treasury one is particularly interesting and could impact significantly on our day-to-day lives, depending on how Government decides to take the responses forward. Like RTI, there is an emphasis on speed, as the intention is to announce changes in the 2012 Budget.
Our continuing story of Real Time Information (RTI) brings us up to September 2011 and the publication of HMRC’s Summary of Responses document following their consultation. There were also further developments with regard to RTI last week, with the issue of draft Regulations for us to comment on.