PAYE reforms slammed by finance professionals
Posted by Gina Dyer in Tax on Fri, 30/07/2010 - 17:14
- Government releases PAYE discussion document on reform of PAYE
- Ideas include 'real time' payroll info and centralised collection of tax and NIC via BACS
- Finance professionals concerned about operational effectiveness of new system
- Software providers fear an end to payroll software products
The government has put forward ideas for an overhaul of the PAYE system, but finance professionals fear the changes could do more harm than good.
The government has released a new discussion document this week putting forward suggestions for reforming the current PAYE system, which has been in place for 66 years.
The new proposals comprise two main elements – the provision of ‘real time’ payroll information and centralised collection of tax and NIC.
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