BusinessBusiness RecoveryRevenue hit for £1m tax credit compensation

Revenue hit for £1m tax credit compensation

The 'disastrous' introduction of the new tax credit regime has forced the Inland Revenue to pay out almost £1m in compensation to people whose payments were delayed or erroneous.

Link: Taxing deadlines for Revenue staff

Almost 11,000 claimants won compensation totalling £940,000 for errors made since the introduction of the child tax credit and working tax credit in April last year, The Telegraph reported.

The Revenue blamed difficulties with the computer system for the problems, but claimed these had now been resolved.

Earlier this year the Public Accounts Committee branded the introduction of the new tax credits ‘nothing short of disastrous’.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

5m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

5m Emma Smith, Managing Editor