Article by Richard Mannion, CIOT President 2000-2001. This article appeared in the December 2005 issue of Tax Adviser. Two years ago, the then Inland Revenue and ministers were in complete denial that there were any problems with the new system of tax credits. The impression given was that politically this was extremely sensitive and could not be seen to fail. Two years down the track, the mask has slipped somewhat and over the last few months there has been a (rather reluctant) owning up to the fact that there have been major problems, and the Paymaster General, Dawn Primarolo, has recently given HMRC a list of urgent tasks to sort out to improve matters.
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December 2005 by