Revenue and Customs are losing £2.8bn a year in tax, through people not filling in their tax returns correctly and it is not economic to get the money back.
The admission comes in a report by the Commons public accounts committee into the failure of Revenue & Customs to meet best business practise.
The report is scathing [...]

UK Finance News
Entries Tagged as 'Income Tax'
Revenue & Customs Lose £2.8bn A Year
John Williams - Thursday 15.05.08, 11:59am
Tags: Income Tax
Younger investors picking up the pensions challenge
James Stafford - Monday 28.04.08, 05:54am
It would seem that at last younger savers are starting to take pension savings seriously. It may also mean that recent pension reforms are starting to hit home.
And so they should, with excellent tax breaks and more generous limits on contributions, the fruit is ripe for the picking.
Research by Fidelity FundsNetwork shows nearly a quarter of a [...]
Tags: Income Tax · Pensions
10% Income Tax rate: now you see it…now you don’t
James Stafford - Thursday 24.04.08, 05:26am
Far from a U-turn, Alistair Darling’s manoeuvre on the 10p tax rate was more akin to reversing into a lamppost. Lampposts are big and bright and shouldn’t be difficult to miss; so whilst now doubt an illuminating experience for the Chancellor, he should have seen this object in the rear view mirror.
Ironically, it was Gordon’s [...]
Tags: Income Tax
Tax rate change downgrades pension conribution tax relief
James Stafford - Thursday 27.03.08, 06:37am
When you are panicking about your pension, here is something else you need to worry about before 5th April - making sure you get the maximum tax-relief in advance of the basic rate of income tax dropping to 20%.
If you’re planning to drop in a lump sum or just fill out your Stakeholder with its [...]
Tags: Income Tax · Pensions






