Not paid your tax? HMRC to be able to take cash STRAIGHT from your bank account
HMRC is to be handed powers to take money straight from Brits’ bank accounts if they don’t pay their tax.
TL;DR
- HMRC will be granted powers to take unpaid tax directly from people's bank accounts.
- This measure aims to recover up to £4 billion in small unpaid debts.
- The change will allow HMRC to collect smaller sums than previously possible.
- Currently, HMRC requires a minimum debt of £1,000 and ensures £5,000 remains in accounts before seizure.
- An estimated 4.8 million people and businesses owe less than £10,000 each in tax.
- Concerns exist that an automated system might negatively impact those who miss payments due to illness or communication issues.