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Will firms adopt facilities management process as CIOT sees fair and transparent taxation?

May 17th 16:24 Cost Management 

Small business owners in the UK could be among those to be encouraged by recent calls for the country's tax system to be "proportionate, fair and transparent".

The call comes from the Chartered Institute of Taxation (CIOT), after it conducted its review of the first year of HM Revenue and Customs' (HMRC) use of its new powers.

According to the CIOT, the introduction of the new regime did not lead to the "excessive and inappropriate" use of power that some experts had feared.

However, the organisation said there is a need for more clarity on which powers HMRC will use in any given situation.

CIOT president Andrew Hubbard said: "There is a clear need for a 'route map' showing taxpayers and their advisers how the various powers and sanctions fit together," he said.

"HMRC seem reluctant either to impose high penalties for deliberate understatement or to accept that there have been innocent errors in some cases, instead going in almost every case for the middle option of determining a failure to take reasonable care."
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