TaxAdministrationHMRC facing massive tax write-off

HMRC facing massive tax write-off

Overpayments to tens of thousands of households cannot be reclaimed

HM Revenue and Customs may be unable to
claim as much as £500m in overpaid tax credits, after not following protocol.

The Daily Telegraph reported a HMRC spokesman as confirming that
recovery officials failed to abide by section 18 of the
Tax Credit Act
2002
by not notifying the individuals involved that they were reviewing
their tax credit payments.

What this means is that money may have to be sent back to taxpayers who were
never entitled to it in the first place.

It is estimated that up to 250,000 cases are involved, although HMRC insists
90,000 of those can be rectified.

Further reading:

Taxman rushes to defend big business

Related Articles

LITRG urges government to consider tax changes in disability work plan

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

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

Administration HMRC appeal rejected in Tottenham Hotspur case

3w Emma Smith, Managing Editor
HMRC issues updated Trusts Registration Service guidance

Administration HMRC issues updated Trusts Registration Service guidance

3w Emma Smith, Managing Editor
New trading allowance: simplicity, but not as we know it

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

2m Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

3m Helen Thornley, ATT Technical Officer
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

1y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

1y Fraser Simpson, Reporter