June 10th, 2014
HMRC's Plan To Extract Cash From Taxpayers Bank Accounts
While every attempt will be made to ensure that information provided is accurate at the time of publication, it should be treated as guidance only and does not constitute legal or professional advice. Tax law and guidance changes frequently and readers are advised to consult the current relevant publication for the most up-to-date information on this topic.
This article, written by Keith Gordon for Taxation magazine, the market-leading weekly magazine providing news and features on UK tax law, practice and administration, discusses HMRC's proposal to extract cash from taxpayers' bank accounts.
- No independent arbiter proposed, only "safeguards".
- Risk of unfairness particularly with joint accounts.
- Lack of clarity about previous contact with taxpayers.
- Sufficient powers are already in place.
- The possibility of injustice outweighs the alleged benefit.