HMRC has updated its summary of the legislation arising from its review of powers, deterrents and safeguards (penalties, compliance checks, time limits and interest) and the date it comes into effect.
The Review of HMRC powers, deterrents and safeguards started in 2005. It is a programme of consultation and legislative change to provide a modern framework of law and practice for tax administration. It aims to secure the benefits of the merger of HM Customs and Excise and the Inland Revenue by aligning powers, deterrents and safeguards across the taxes and duties administered by HMRC, where it makes sense to do so.
The Review consults on parts of its work as they are developed, feeding the results into successive Finance Bills. Changes to legislation have been made in Finance Acts 2007, 2008, 2009, 2010 and 2011. The Review is consulting on proposals for inclusion in Finance Bill 2012 and for possible inclusion in Finance Bill 2013.
The updated summary is available from HMRC.
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