FOLLOWING the decade anniversary since the merger between the Inland Revenue and HM Customs and Excise to create HMRC took effect on 18 April 2005, the verdict on the enlarged department’s relative success or failure lies somewhere in between.
A poll of 73 Accountancy Age readers found that around a third felt the project had been a failure because the department is in the lap of the corporate world, providing decreasing levels of service for ordinary taxpayers while spending billions on white elephant IT projects.
And while only 17% said HMRC had successfully transitioned to new digital channels, cracked down on tax avoidance and gained new powers, the majority of respondents felt the taxman had been held back by resource cuts.
Around half said resource cuts had hamstrung its ability to deliver an adequate service, a view that mirrors comments made by former PAC chair Margaret Hodge to sister title Financal Director.
The current poll asks if Baker Tilly will benefit from changing its name to RSM. Take part here
As the UK navigates its way through the Brexit process, it has become imperative for finance leaders to find ways to understand and manage their currency risks. So, how are UK finance directors managing their currency risks in the face of Brexit uncertainty?
British business leaders are not optimistic about the future, according to a new business survey
Senior finance appointments parachuted in as investigation finds Redcentric overstated profits by £20m
Prime minister May outlines tax incentives to boost high-tech business, and further corporation tax rate cuts, to the CBI