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Essay / Research Paper Abstract
In April 2005 the UK Customs and Excise operations were merged with the Inland Revenue, for the first time putting all financial compliance operation in a single department. This 3 page paper considers some of the advantages and disadvantages that may result from this merger. The bibliography cites 3 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TErevcust.rtf
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Unformatted sample text from the term paper:
and Excise operations were traditionally separated from the Inland Revenue. The merger of these two large departments creates advantages and disadvantages. The UK was one of the few
countries that did not have these function for the collection of direct and indirect taxation of different types under a single department (Briault, 2004). One of the drivers for the
merger of the departments was the way on which, when introduce VAT, an indirect tax, was given to Customs and Excise rather than the Inland Revenue, where may argued it
would be a better fit (HCTC, 2004). However, in April 2005 the Customs and Excise merger with the Inland Revenue under the name of Her Majestys Revenue and Customs.
The merger was pushed though so that it would take place before the UK general election in 2005; this meant the merger was not well co-ordinated and for the
initial stages both departments remain autonomous in their operations (Wilkinson, 2005). However, this is not foreseen as continuing. One of the major benefits is in the level of accountability
and transparency with a single department with unified system will be able to provide a more standardised service with potentially lower costs due to economies of scale. The placement of
the services under the control of a single authority for all fiscal compliance issues is also argued as being better for businesses that have to deal with the two departments
(HCTC, 2004, Briault, 2004). For small business this may help in the long term instead of dealing with two departments they will be able to deal with on. In
the past many businesses have been able to develop working relationships with the staff of the Inland Revenue, allowing for a better transaction if the business. With a single department
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