HMRC has been accused of be writing off £1.4bn in overpaid tax credits by the all party Public Accounts Committee.
The PAC said combined with £500m cost of revamping the system, it would bring losses from overpayments to £1.9bn.
HMRC slammed over tax credits bungle
Public Accounts Committee says £1.4bn is likely to be written off
Accountancy Age, 09 May 2007
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Edward Leigh, chairman of the committee, said: ‘Billions of pounds, far more than those who thought up the system ever envisaged, are still routinely overpaid to claimants.
‘Very large amounts have to be written off. And the attempts to recover overpayments from genuine claimants have caused significant suffering to many vulnerable families.'
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