Budget 2004: Revenue and Customs to merge
28 August 2012
The Chancellor confirmed the much-rumoured merger of the Inland Revenue and Customs & Excise in his 2004 Budget, but the move was met with a cautious response from many within the accountancy profession.
The government’s intention is to create a single tax service which it believes will be easier for businesses to deal with, and which will create substantial savings in back office costs. 10,500 jobs will be lost as a result of the merger.
Richard Collier-Keywood, Head of UK Tax at PricewaterhouseCoopers, welcomed the merger. He said: “This should reduce the...