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HM Revenue and Customs in spotlight again

HM Revenue and Customs is today facing fresh allegations regarding tax collection systems with a suggestion that the recently introduced 50p higher rate of income tax is unlikely to be collected in the traditional manner. It is believed that new tax codes required to collect this high rate of tax from those affected have not been created and those who should be paying a higher rate of tax are likely to receive tax demands in the future.

It is believed that potentially tens of thousands of people could be impacted by the delay in forwarding new PAYE codes. This could potentially leave the UK government short of taxation income and also increase the cost and the time required to finally claw back income from the new higher rate tax band. This is just the latest in a number of issues regarding HM Revenue and Customs and further justifies the coalition party's target of simplifying the UK taxation system.

HM Revenue and Customs believe that any taxation shortfall regarding the new higher tax band will be collected via self-assessment forms by January 2012. However, this is not the computerised all singing all dancing system which we were promised by the previous government.

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