Introduction
Tax reliefs form a distinct part of the tax system.
New tax reliefs, and proposed changes to reliefs, are introduced
through the annual Finance Bill, at which time their expected
costs to the Exchequer are published. HM Treasury has lead responsibility
for the policy design of tax reliefs, while HMRC is responsible
for managing their implementation. Tax reliefs add to the complexity
of the tax system and they carry risks, such as the possibility
of them being used for tax avoidance. HMRC has the responsibility
for ensuring such reliefs are effectively administered and meet
the purpose intended by Parliament.
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