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HMRC OPENS CUSTOMS CONSULTATION |

22/08/11

HM Revenue and Customs (HMRC) has launched a new consultation on customs tax in the UK.

The consultation document, entitled Modernising Customs and Excise Law, is calling for comments from individuals involved in international trade and transport, international air travel, sea and rail operators and groups that represent passengers.

HMRC is suggesting updating and simplifying the Customs and Excise Management Act 1979.

People in corporate finance jobs might note that HMRC hopes this move will close the tax gap, remove red tape for businesses and protect the UK's borders.

In other news, HMRC recently published an exhaustive list of software and online forms which can be used to file company tax returns online in the required iXBRL format.

Despite this, clients are expected to ask their software suppliers for information about the security of their products in order to ensure their data is kept confidential and protected against unauthorised access.

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