The National Audit Office (NAO) has released it's report into HMRC and warns that HMRC failed to collect £9.6 billion of VAT in 2010-11. It has also warned that there are widespread errors and issues of fraud in the payment of personal tax credits.
The watchdog also reported that HMRC do not carry out comprehensive checks of company's VAT returns and they have no plan in place to deal with the threat of tax losses from online trading.
Yet another glowing report into HMRC!
For the thirteenth time the NAO issued a "qualified" verdict on the accounts of HMRC and stated that errors and fraud in the personal tax credits system stood at 7.3% of all payments. Surprisingly this is the lowest it has been since the system was introduced 10 years ago.
If you are having issues with HMRC, need to claim back a tax refund or believe they have made a mistake with your tax deductions, then get in touch today and we can take a look at your individual situation.