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We understand HMRC’s wish to introduce a modern tax system based on digital technology. Building societies need to know that the benefits to HMRC outweigh the considerable costs to themselves, and ultimately to their members. For any change to be successfully introduced to the BBSI schema, building societies and other FIs will need adequate time, complete certainty and clarity.
We note with interest the statement made by the Public Accounts Committee that some of the projects under HMRC’s transformation programme will be slowed down or stopped. Making tax digital is a prime candidate for such “re-prioritisation”.
Click here to read the full response.
Andrea Jeffries
Policy Manager
Personal Savings Allowance
Bank of England Bill
Changes to the Pension Protection Levy for 2017/18