HMRC's accounts qualified as tax credit fraud spirals out of control
HMRC’s 2006-07 Departmental Accounts have again been qualified due to unacceptably high levels of claimant error and fraud in the award of tax credits, and the report also includes observations on the collection of income tax through Self Assessment and PAYE and the administration of Value Added Tax.
Edward Leigh MP, Chairman of the Committee of Public Accounts is best described as being 'exasperated' by HMRC’s incompetence. He says:
“According to latest estimates, the amount being lost to fraud and error is running at a staggering billion pounds a year.