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Tax professionals have welcomed the government’s decision to modify proposals for the direct recovery of tax debts from bank accounts. Chas Roy-Chowdhury, head of taxation at ACCA, said the revised proposals were “light years better than what was originally proposed”.
The government will not try to push through the necessary legislation before the general election. It intends to “legislate in a Finance Bill in 2015, during the next Parliament”, financial secretary David Gauke said. Draft legislation will be published for consultation.
HMRC estimates that direct recovery of debts (DRD) will apply to around 17,000 cases a year. Around half will involve debtors with more than £20,000 in their bank and building society accounts, and the average debt of those affected will be £5,800.
The government will not try to push through the necessary legislation before the general election. It intends to “legislate in a Finance Bill in 2015, during the next Parliament”, financial secretary David Gauke said. Draft legislation will be published for consultation.
HMRC estimates that direct recovery of debts (DRD) will apply to around 17,000 cases a year. Around half will involve debtors with more than £20,000 in their bank and building society accounts, and the average debt of those affected will be £5,800.
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