The losses, reported in the Financial Times to be £2bn, will come as an embarrassment to Customs’ chief Richard Broadbent, who recently reorganised Customs’ senior management team.
Announcing the move in April, Customs’ bosses said the reshuffle was designed to improve accountability and communication to ministers and the public.
The latest embarrassment follows criticism from Sir Richard Scott in the arms-to-Iraq affair and a probe which found extensive errors in a collapsed Customs’ drug-smuggling prosecution.
Drastically fewer offices for HMRC in the hope to reduce their running costs
Tayabali Tomlin and d&t directors launch £20 a month TaxGo service, aiming to be the 'biggest UK firm' by client numbers
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans