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NAO to scrutinise tax reliefs after critical report

Accountancy Age

HM REVENUE & CUSTOMS must do more to monitor the impact of tax reliefs, with little currently known about effectiveness or unintended consequences, the National Audit Office said in a report. The report identified more than 1,000 reliefs currently in place, and estimates the cost to the public purse stands at more than £101bn. Some reliefs are designed to deliver specific policy objectives by providing behavioural incentives to achieve economic and…

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