HMRC has come under fire again from the House of Commons Public Accounts Committee for failing to block tax avoidance schemes worth billions of pounds.
In what is becoming an almost weekly ritual, PAC chair Margaret Hodge grabbed headlines by lambasting the tax department, this time for its dozy response to tax scheme devisers who are draining more than £5bn away from the Exchequer a year.
Hodge sourced the £5bn figure from a recent NAO report on HMRC’s efforts to tackle marketed avoidance schemes, which also estimated a backlog of 41,000 cases meant that up to £10.2bn could be at stake.
The PAC report also draws on written evidence presented to the committee and oral evidence presented in December from HMRC officials, account...
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.