News: June 2014

HMRC seeking power to raid taxpayers’ bank accounts

Another controversial measure is being proposed by the Government to give HMRC the power to recover unpaid tax over £1,000 from taxpayers’ private bank accounts. We are told that this new power will only be used where the taxpayer has ignored several demands for payment and the taxpayer’s bank account should not be reduced below £5,000 by HMRC. It would appear that this proposed new power will extend to joint bank accounts in the tax debtor’s name.