(from the Torygraph)
Income Tax
• 3.8m taxpayers paying the wrong amount of tax
• £575m of PAYE not collected, £295m unrefunded
• £9.6billion owed to Revenue for 2004-05 tax year - 40pc outstanding for more than 12 months
National Insurance
• £1.24billion in unpaid NIC for 2004-05 - £616m unreclaimable
• £283m written off due to "doubts about the reliability of the records"
• Remaining £333m written off because it is time-barred
• Revenue racing to collect £71m of NIC before it is time-barred in March
Tax Credits
• 1.9m families overpaid by £2.2billion - half relates to 283,000 families overpaid by £2,000-plus
• £123m of overpayments written off for 2004- 05, provision for further £961m of "doubtful debts"
• £7.9m overpayments due to software problems in 2004-05
• £80m of overpayments to 88,000 households in the past two tax years - biggest overpayment is £20,000
Nice link from BBC
http://news.bbc.co.uk/1/hi/uk_politics/4328936.stm
Does anyone know what %age of total tax return is that? It's an astronomical figure. We could fight about 15 wars with that amount of cash!
Income Tax
• 3.8m taxpayers paying the wrong amount of tax
• £575m of PAYE not collected, £295m unrefunded
• £9.6billion owed to Revenue for 2004-05 tax year - 40pc outstanding for more than 12 months
National Insurance
• £1.24billion in unpaid NIC for 2004-05 - £616m unreclaimable
• £283m written off due to "doubts about the reliability of the records"
• Remaining £333m written off because it is time-barred
• Revenue racing to collect £71m of NIC before it is time-barred in March
Tax Credits
• 1.9m families overpaid by £2.2billion - half relates to 283,000 families overpaid by £2,000-plus
• £123m of overpayments written off for 2004- 05, provision for further £961m of "doubtful debts"
• £7.9m overpayments due to software problems in 2004-05
• £80m of overpayments to 88,000 households in the past two tax years - biggest overpayment is £20,000
Nice link from BBC
http://news.bbc.co.uk/1/hi/uk_politics/4328936.stm
Overall benefits spending runs at £109bn a year.
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