The Telegraph reports:
The tax authorities are consulting accountants, lawyers and businesses on the plans to reform the pay-as-you-earn (PAYE) system. …
To make PAYE more accurate, Treasury ministers have suggested that employers should provide HMRC with monthly updates on workers’ salary payments and other financial details.Such “real time information” could then be used as the basis of a new “centralised deductions” system that would give HMRC an unprecedented role in workers’ monthly salary payments.
Under the centralised deductions system, employers would pay workers’ monthly salary into a central calculator run by HMRC.
There, income tax deductions would be made automatically and the net salary then passed on to the worker by HMRC.
Body … dead … over.Tags: IRD, United Kingdom