Taxman farms out debt collection in £140m chase

by David Jetuah

More from this author

29 Jul 2010

  • Comments

The taxman is farming out part of its debt collection operations to four companies in moves to rake in an extra £140m of tax debt.

HMRC has signed contracts with Commercial Collection Services Ltd, Credit Solutions Ltd, Fairfax Solicitors Ltd, iQor Recovery Services Ltd to boost HMRC’s debt collection capacity and help the pursuit of lower value debts.

Following a successful pilot,HMRC announced in the Emergency Budget that it was planning to use Debt Collection Agencies.

Safeguards have been put in place to ensure the companies operate under industry and HMRC standards.

Nick Lodge, HMRC Director, Debt Management and Banking, said:

“We do understand that some businesses and individuals are not in a position to pay what they owe and we have put procedures in place to help those who are genuinely struggling.

But those who simply refuse to pay have to be pursued, and our partnership with DCAs ensures they will be.”

Before the debt is referred to a DCA, HMRC will write to the debtor giving one final opportunity to pay or reach an agreement, the taxman added.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication


Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.