Menu
23/09/2010
£1.5bn In Tax 'Could Be Written Off'
Just weeks after it emerged that around six million people had been wrongly taxed since 2008, it has been reported that up to £1.5bn of other unpaid tax could be written off.
Due to cases being over two years old and open to legal challenge from taxpayers, the majority of the bill would not be pursued, HM Revenue and Customs staff have said.
Around 7.5 million cases of tax underpayment or overpayment is involved. Overpayment will be reimbursed and is estimated at £3bn dating back to 2007-8. No decision has been reached regarding underpayment.
The latest cases to emerge, are not on the HMRC's new computer system and will have to be dealt with on a manual basis.
HMRC staff have said that only those cases that verge on fraud will be pursued.
Cases will still be processed, were money is owed by the Exchequer to taxpayers.
A spokesman added: "We are going to be looking at at how best to deal with these. We are going to look at the specifics of each case and apply a normal criteria in due course.”
(BMcN)
Due to cases being over two years old and open to legal challenge from taxpayers, the majority of the bill would not be pursued, HM Revenue and Customs staff have said.
Around 7.5 million cases of tax underpayment or overpayment is involved. Overpayment will be reimbursed and is estimated at £3bn dating back to 2007-8. No decision has been reached regarding underpayment.
The latest cases to emerge, are not on the HMRC's new computer system and will have to be dealt with on a manual basis.
HMRC staff have said that only those cases that verge on fraud will be pursued.
Cases will still be processed, were money is owed by the Exchequer to taxpayers.
A spokesman added: "We are going to be looking at at how best to deal with these. We are going to look at the specifics of each case and apply a normal criteria in due course.”
(BMcN)
Related UK National News Stories
Click here for the latest headlines.
30 November 2010
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
18 December 2003
Cot death expert to face professional conduct inquiry
The expert witness at the centre of a number of high-profile cases brought against women charged with killing their infants is to face a professional conduct inquiry.
Cot death expert to face professional conduct inquiry
The expert witness at the centre of a number of high-profile cases brought against women charged with killing their infants is to face a professional conduct inquiry.
03 June 2013
'Most Wanted' Tax Fraudster Jailed
A computer company director described by HM Revenue & Customs as "a tax fraudster in a Most Wanted list" after he absconded to the USA has been jailed. 53-year-old Jonathan Nugent was charged with a £5.5m VAT fraud in 1998. After being released on bail, he absconded to the USA in 2000 before his trial began.
'Most Wanted' Tax Fraudster Jailed
A computer company director described by HM Revenue & Customs as "a tax fraudster in a Most Wanted list" after he absconded to the USA has been jailed. 53-year-old Jonathan Nugent was charged with a £5.5m VAT fraud in 1998. After being released on bail, he absconded to the USA in 2000 before his trial began.
30 May 2014
More Fall Into Debt Following HMRC Overpayments
The number of issues reported to Citizens Advice of people falling into debt as a result of repaying overpaid tax credits increased by 14 per cent in the 2013/14 tax year. Tax Credit debts arise when HMRC over-estimates a person’s entitlement to financial support and ends up having to recoup overpayments.
More Fall Into Debt Following HMRC Overpayments
The number of issues reported to Citizens Advice of people falling into debt as a result of repaying overpaid tax credits increased by 14 per cent in the 2013/14 tax year. Tax Credit debts arise when HMRC over-estimates a person’s entitlement to financial support and ends up having to recoup overpayments.
06 April 2011
Government Tackle Tax Avoidance
David Gauke, Exchequer Secretary to the Treasury, has today announced a change in legislation to prevent tax avoidance. The measure will prevent individuals from taking advantage of a tax loophole that would have emerged today had the Government not taken action.
Government Tackle Tax Avoidance
David Gauke, Exchequer Secretary to the Treasury, has today announced a change in legislation to prevent tax avoidance. The measure will prevent individuals from taking advantage of a tax loophole that would have emerged today had the Government not taken action.
-
Northern Ireland WeatherThis Evening and Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
