The Chancellor's recent announcement about cutting child benefit for those on higher incomes, on the face of it may seem simple enough wrt how it will be administered.
However, when it comes to politicians' announcements, nothing is ever as simple as it first appears.
Accountancy Age reports that instead of child benefit payments to higher rate earners simply being stopped, the payments will in fact be "clawed back" through the PAYE and self assessment systems.
This absurd "Heath Robinson" claw back will increase the complexity of individuals' tax affairs, and add to the burden on the already overstretched HMRC.
Come on George, sharpen up!
Tax does have to be taxing.
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