Printer Friendly

Inland Revenue writes off pounds 5.2BN taxes.

TAXES totalling almost pounds 5.2 billion were written off by HM Revenue and Customs last year, according to a report published by official auditors.

Meanwhile, HMRC's accounts for 2011/12 showed it overpaid around pounds 2-pounds 2.5 billion in tax credits and underpaid up to pounds 290 million as a result of fraud and error, said the report, prepared by the National Audit Office.

A target of reducing the level of fraud and error to 5 per cent of tax credit entitlements was missed.

The chairman of the influential House of Commons Public Accounts Committee, Margaret Hodge, said she was shocked by "the sheer scale of waste and mismanagement" at
COPYRIGHT 2012 Coventry Newpapers
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Coventry Evening Telegraph (England)
Date:Jun 29, 2012
Previous Article:It all adds up for school kids.
Next Article:Cops seek Good Samaritan after sexual assault.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |