Press Statement from the CIOT and IPPM
|Category|| 2005 Releases
Where is the Rainbow? The Bible tells us that a Great Flood once covered the earth, but afterwards a rainbow appeared. This was God’s promise that “the waters shall no more become a flood.”
In this year’s Budget, the Government admitted they have flooded the country with bureaucracy and regulation, and promised to mend its ways. But in the Budget’s small print is a new requirement that all employers send a “targeted letter” to each employee, explaining the changes to the Tax Credit system.
Kate Upcraft, Policy & Research Manager of the Institute of Payroll and Pensions Management (IPPM), said: “Sending this letter will cost employers millions of pounds. It is an unnecessary burden on business – communication on tax matters is more appropriately and efficiently carried out by the Inland Revenue.”
Anne Redston, Chair of the Personal Taxes Subcommittee of the Chartered Institute of Taxation said: “We welcome the Budget Initiatives to cut red tape, but have not seen the rainbow in the heavens. We would like the Government to change their mind on this ‘targeted letter’. This would be a sign that they are really listening to businesses and mean to reduce regulatory burdens.”