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 UK taxman plans to settle debts by raiding bank accounts

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UK taxman plans to settle debts by raiding bank accounts Vide
PostSubject: UK taxman plans to settle debts by raiding bank accounts   UK taxman plans to settle debts by raiding bank accounts Icon_minitimeWed Jul 30, 2014 12:53 am
HMRC was accused yesterday of taking ‘a smash and grab’ approach with its demand for new powers to seize money directly from people’s bank accounts.

Britain’s leading tax experts warned the taxman risks being ‘unconstitutional’ with the controversial plans, which could come into force within months.

UK taxman plans to settle debts by raiding bank accounts 1406680265107_wps_6_Close_up_of_the_HMRC_logo

The proposed new powers - which were published in the Budget and subject to a public consultation which closed yesterday - have triggered an outcry among tax experts.
HM Revenue and Customs has been accused of taking a 'smash and grab' approach with its demand for new powers to seize money directly from people¿s bank accounts

HM Revenue and Customs has been accused of taking a 'smash and grab' approach with its demand for new powers to seize money directly from people’s bank accounts

If HMRC believes anyone owes money to them, they will be able to take the cash directly from current accounts, joint accounts or tax-free Isas to settle an unpaid tax bill.

Around 17,000 people a year will have money seized under the proposed new powers, known as the ‘direct recovery of debts’. Each will typically owe £5,800.

To be targeted, somone must owe at least £1,000 to the tax man – and must have at least £5,000 left across their accounts after the money for their tax debt has been removed.

http://www.dailymail.co.uk/news/article-2710278/Outcry-taxman-s-plan-settle-debts-delving-people-s-bank-accounts-help-money.html
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