The Inland Revenue collects over Ap200 billion a year in tax and National Insurance contributions from 30 million taxpayers, ranging from individuals to multinational corporations. The total amount of debt from unpaid taxes stood at Ap12 billion at the end of March 2004, of which Ap3 billion was more than a year old. Following on from a NAO report (HCP 363, session 2003-04; ISBN 0102927596) published in March 2004, the Committee has examined the progress made by the Inland Revenue to speed up debt recovery, whether more can be done to encourage prompt payment and the application of good practice in debt management. Findings include that the Department should impose a surcharge on persistent late payers; use other government departmental records to find taxpayers it cannot trace; seek additional powers for enforcing debts similar to those of other tax authorities; and include debt management data in its performance measures.The Committee requested advice on the write-off of National Insurance (NI) contribution debts that had been reported in the media in late February 2004. ... The amount in 2002-03 includes insolvent companiesa#39; debts accrued before July 200l which were cleared from the ... I do not know whether my interpretation of the Report is right, but you could accept credit card payments now, but ... I was sitting here thinking Ap85 million out of Ap3 billion: how long will it take to get it down to zero?
|Title||:||Recovery of Debt by the Inland Revenue,Forty-Ninth Report of Session 2003-04,Report,Together with Formal Minutes,Oral and Written Evidence|
|Author||:||Great Britain. Parliament. House of Commons. Committee of Public Accounts, Edward Leigh|
|Publisher||:||The Stationery Office - 2004|