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Government Announces Plans To Attack High Net Worth Individuals

The UK government has announced an expansion of its "high net worth unit" with a cumulative £900 million investment to scrutinise the tax returns and assets of high net worth individuals in the UK. The government expects to recoup up to £7 billion from 2014/15 although there is uproar that so much money is apparently being invested to simply attack the rich in the UK.

HMRC Cost-cutting Measures Could Backfire

HM Revenue and Customs has this week announced plans to save an estimated £1.25 million per annum by ending the practice of sending copy tax correspondence and tax notices to individuals and their financial advisors. However, there are now serious concerns that this particular cost-cutting measure could backfire dramatically if, as expected, individuals fail to pass on correspondence from the revenue to their tax advisor.

Has The OBR Been Saved?

The announcement that Robert Chote will take on the new role as head of the Office for Budget Responsibility (OBR) has injected some new life into what was potentially a banana skin for the UK government. After a relatively smooth transition from opposition to government, George Osborne announced the creation of the Office for Budget Responsibility with the criteria that it would operate at an arms length distance from the UK government and indeed review and comment upon the performance of the UK government as a whole.

MPs Approve New Head Of OBR

The Office for Budget Responsibility (OBR) has finally received some good news with the announcement that Robert Chote, currently head of Institute for Fiscal Studies, will be the chairperson of the OBR in the future. It is believed that he will take up his role with the OBR ahead of next month's government spending review which is certain to cause controversy in the UK.

Government Considering Bottle Deposit Scheme

The UK government is today considering a bottle deposit scheme which would see a small levy place upon bottles sold in the UK which would be repaid to customers when the empty bottles were returned. The Campaign to Protect Rural England is suggesting a 15p deposit for bottles up to half a litre and 30p for others and believes this would mean that 90% of bottles being return. This would then allow companies to recycle bottles thereby reducing harm to environment and increasing recycling rates.

Is It Too Late For The Government To Do A U-turn On Public Sector Spending?

Amid signs that there is growing resistance towards the government's so-called austerity measures, the question of a possible U-turn is almost certain to be brought up over the coming weeks. So can the UK government afford to do a U-turn on public sector spending and reduce the pace at which the budget will be cut?

HM Revenue And Customs Forced To Announce Further Concession

HM Revenue and Customs has this week been forced to announce that those who "owe" the UK government taxation from the past will not incur interest on any outstanding figures. Despite the fact that the outstanding figures are purely and simply because of mal-administration within HM Revenue and Customs, astoundingly, there have been indications that HM Revenue and Customs would still look to charge interest on these surprise outstanding figures.

Dave Hartnett To Appear Before Treasury Select Committee

Dave Hartnett, the permanent secretary of HM Revenue and Customs, is likely to be summoned to appear before the heavyweight House of Commons Treasury Select Committee to explain the ongoing tax debacle in the UK. He will no doubt be questioned about his reluctance to issue an apology over the weekend prior to pressure from the government forcing a U-turn in his comments and a grovelling apology.

BBC Dispute Could Halt Coverage Of George Osborne's Spending Review

The coverage of George Osborne spending review which is scheduled for 20 October could be in doubt as union leaders today announced dates for a number of strikes in the weeks and months ahead at the BBC. There is no doubt that the proposed action on the day of George Osborne's vital speech has been premeditated and is timed to cause maximum disruption.

Delays Expected At HM Revenue And Customs

A small note on the HM Revenue and Customs website indicates that resources have been "moved" to high priority work in the short to medium term and those looking to submit their self-assessment forms for the 2009/10 tax year may well experience delays of up to eight weeks. Those looking to register for frontline services may well also experience delays in what many believe is part one of a significant cost-cutting exercise by the UK government.

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