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2nd August 2010
HM Revenue and Customs (HMRC) has invited contractors to submit their thoughts on alternative ways of collecting this information that could cut the administrative costs.
It has also suggested that this could form a foundation which could help bring about further changes to the 66-year-old system.
One of the proposals could include the implementation of a system which tracks PAYE deductions in real time and how it could be adapted to make the most of this information.
HMRC is looking for the opinions of "those running PAYE schemes, providers of payroll software, providers of payroll services, employers and pension schemes", which could include umbrella company users.
Earlier this month, Andrew Hubbard, former president of the Chartered Institute of Taxation, claimed that the UK''s tax system is in need of reform.
Umbrella company users ''can take part in PAYE consultation''
A consultation on PAYE is inviting the contribution of umbrella company users.
HM Revenue and Customs (HMRC) has invited contractors to submit their thoughts on alternative ways of collecting this information that could cut the administrative costs.
It has also suggested that this could form a foundation which could help bring about further changes to the 66-year-old system.
One of the proposals could include the implementation of a system which tracks PAYE deductions in real time and how it could be adapted to make the most of this information.
HMRC is looking for the opinions of "those running PAYE schemes, providers of payroll software, providers of payroll services, employers and pension schemes", which could include umbrella company users.
Earlier this month, Andrew Hubbard, former president of the Chartered Institute of Taxation, claimed that the UK''s tax system is in need of reform.
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