Facilities management cost reduction process users could be boosted by HMRC's PAYE plans
October 5th 15:39 Cost Management
Employers who have adopted facilities management cost reduction processes in a bid to maximise profits could be among those to benefit from new HM Revenue & Customs (HMRC) proposals.
HMRC recently announced that it is planning to introduce real-time information into its PAYE system in order to generate cost savings.
The Chartered Institute of Taxation (CIoT) has claimed that the move could benefit HMRC, UK employers and a number of employees.
However, the organisation has also claimed that implementing the proposals will mean a series of challenges.
John Whiting, CIoT tax policy director, explained: "The idea of information flowing from employers to government as soon as circumstances change, rather than being reconciled at the end of the tax year, is a seductive one, but this proposal would be likely to load additional costs onto employers, particularly those who do not currently use electronic methods for paying their employees."
He also claimed that the "real benefits" will only be realised when three-way communication between employers, HMRC and employees is a possibility, but said "we are a long way from that".
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