Inland Revenue, Customs & Excise to be Merged
Gordon Brown announces the creation of a unified tax-collection agency
18th March 2004
The two major UK tax-collection agencies are to be merged, leading to a less complicated tax system but at the loss of over 10,000 jobs.
The plan, announced in yesterday's budget, will lead to lower admin costs for the Treasury and will likely reduce accounting costs for businesses.
Currently, the Inland Revenue is responsible for collecting income tax and corporation tax, while the Customs & Excise handle import taxes, VAT, and consumer taxes such as those on alcohol and tobacco.
The investigative arm of the Customs, which tackles smuggling, human trafficking and other border-related issues, will become part of a new Serious Organised Crime Agency.
Read More: BBC
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