HMRC 'could write off' £1.5bn unpaid tax

clock

As much as £1.5bn in unpaid taxes could be written off by HMRC as a number of cases are more than two years old and could be open to legal challenge by taxpayers.

Front-line staff at HMRC told the BBC only those cases that verge on fraud will be pursued. There is a backlog of more than seven million cases of tax underpayment or overpayment - the latter estimated at £3bn which will be reimbursed - dating back to 2007/8. An HMRC spokesman said no decision had been made on underpayment cases. The details come weeks after it emerged a further six million people had been wrongly taxed in the past two years, with 1.4m people who underpaid in line to receive an unexpected tax bill. The latest cases to emerge are not on the HMRC's new computer s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Woodford IM hits back at FCA's enforcement action including £46m in fines

Woodford IM hits back at FCA's enforcement action including £46m in fines

WIM said it 'strongly disagrees' with the regulator's decision

Cristian Angeloni
clock 05 August 2025 • 3 min read
Regulator bans and fines Neil Woodford and Woodford IM £46m

Regulator bans and fines Neil Woodford and Woodford IM £46m

Woodford has appealed the decision to the Upper Tribunal

Cristian Angeloni
clock 05 August 2025 • 3 min read
Darius McDermott: The line between resilience and risk

Darius McDermott: The line between resilience and risk

'Trump has, for the most part, chickened out'

Darius McDermott
clock 29 July 2025 • 5 min read