HMRC and the Direct Recovery of Debt
May. 10, 2019, 9:43am
Since 18 November 2015, HMRC has had the ability to instruct banks and building societies to deduct amounts to settle businesses and individuals tax debts directly from their bank accounts.
HMRC has raised £178m of tax revenue from April ’16 – Dec ’18 using the recent direct recovery of debt (DRD) power. Over £60m of this was collected from April to December 2018. With the majority of cases settling before direct intervention and payments recovered early in the process, HMRC claims the DRD is proving to be an effective deterrent. (Source Croner Taxwise).
If you have a question concerning DRD or Tax generally, or would like advice on the best possible course of action in a particular area, please do not hesitate to contact us.
We Think. You Gain.
The information in this blog is provided ‘AS IS’ with no warranties, and confers no rights.
Yes, we are accountants, but if we are not your accountant this article does not create a client relationship. This blog is technical/ tax information and should not be seen as advice. All circumstances are different – you should consult with an accountant/ tax adviser before you rely on this information.
Feel free to challenge us, disagree with us, or even profess your undying love in the comments section of each blog entry, but we reserve the right to delete any comment for any reason whatsoever (abusive, profane, rude, or anonymous) – so keep it polite, please!
