HM Revenue and Customs: Improving the Processing and Collection of Tax: Income Tax, Corporation Tax, Stamp Duty Land Tax and Tax Credits - Public Accounts Committee Contents


Supplementary memorandum from HM Revenue and Customs

QUESTIONS 15-18 (MR BACON): TAX CREDITS DEBT

  Additional charts were requested analysing debt by age and value. Chart 1 gives an analysis of total debt by the requested value bands and Chart 2 gives a more detailed analysis by year of entitlement. Debt includes all debt (including debt being recovered from on-going awards, direct recovery and debt not subject to active recovery).

  HMRC normally seeks to recover all tax credit overpayments, but to do so in a way that does not create financial hardship. It will also write off overpayments where there has been a mistake by HMRC and the customer has met their responsibilities. Further information on HMRC's practice in this area is available at: www.hmrc.gov.uk/leaflets/cop26.pdf.



 
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