Revenue's final accounts qualified for tax credit errors

For the third year in a row, the Inland Revenue's annual accounts carried a qualification from the Comptroller and Auditor General for unacceptable error rates in Tax Credit payments.

On Monday morning, HMRC chairman David Varney presented Parliament with the final accounts and trust statements for both HM Customs & Excise and the Inland Revenue. Simultaneously, he held a briefing with journalists to explain the challenges identified and how the new merged regime will address them.

"We need to be open and honest about the issues we face.

Continued...