Review of Powers

Further changes are announced to modernise HMRC`s tax administration, including;

• Simplifying and harmonising interest charged and paid, and aligning late filing /late payment penalties
  The Chancellor has announced reform of the penalty regimes for late filing of tax returns and late payment of tax and to create a harmonised interest regime for the first time for all taxes and duties administered by HMRC with the exception of CT and PRT. More information are in Budget Note 90 and Budget Note 91.
• Launching a new Taxpayer Charter later in the year
  Legislation will be introduced requiring HMRC to prepare and maintain a Charter. The Charter will set out standards of behaviour and values to which HMRC will aspire in dealing with taxpayers and others. More information is in Budget Note 92.
• Instalment schemes to help plan for future tax bills
  Instalment schemes will be available for individuals and companies who wish to spread their tax payments over time and who have met their obligations to pay what they owe on time. More information is in Budget Note 88.
• Applying taxpayer safeguards to all taxes where compliance checks are made
  This measure applies the new compliance checking framework to a number of taxes. It covers new, aligned, information and inspection powers, record-keeping rules and time limits for assessments and claims. More information is in Budget Note 89.