According to reports in the national press yesterday, Danny Alexander is behind a proposal which could see HM Revenue & Customs (HMRC) take money directly from the bank accounts of ‘tax avoiders’. The reports go on to suggest that new powers will be granted to HMRC, with the news revealed in the Budget next Wednesday.
A Treasury source told The Sun:
‘Millions of people play by the rules and pay their taxes. It’s only fair to them the Government equips HMRC with the right tools to do the job. For years they have had the power to seize assets. Now they can go directly after tax dodgers’ cash.’
Apparently those who owe in excess of £1,000 and who repeatedly ignore HMRC’s attempts to get payment will be at risk.
Author: Guy Smith, Senior Tax Consultant on the ReSource Tax & VAT Consultancy Team.
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