TaxPersonal TaxRevenue owed £1bn income tax

Revenue owed £1bn income tax

Revenue still awaiting £1.1bn of outstanding income tax from late returns

Despite attempts by Revenue & Customs to halt the fall in the number of
people filling in tax returns, there remains £1.1bn of outstanding income tax
from late returns.

In a report on the filing of self assessment income-tax returns, the National
Audit Office said the Revenue had ‘stemmed the fall’ in the number of late
returns, but pointed out there were still 1.1 million returns outstanding at the
end of July 2004.

The report said the department was aiming to increase the percentage of
returns filed on time to 93% by 2008. To achieve this, the Revenue has
simplified returns for taxpayers with simple financial affairs and moved a
further 1.5 million taxpayers onto the shortened return to simplify filing.

Sir John Bourn, head of the NAO, said that simplifying the self-assessment
return process would reduce overheads and make it easier for taxpayers to file
accurate returns.

Chas Roy-Chowdhury, head of tax at ACCA, said that in an attempt to boost
returns coming in the department was shifting its focus from punishing late
filers to rewarding those who file early.

Related Articles

Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

Personal Tax Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

3w Alia Shoaib, Reporter
Rent-a-room relief – the survey says…

Personal Tax Rent-a-room relief – the survey says…

2m Helen Thornley, ATT Technical Officer
What should the OTS prioritise in its review of inheritance tax?

Personal Tax What should the OTS prioritise in its review of inheritance tax?

4m Alia Shoaib, Reporter
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

5m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

6m Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

7m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer
Wealthy individuals could circumvent top tax rate rises

Personal Tax Wealthy individuals could circumvent top tax rate rises

9m Alia Shoaib, Reporter