Written off Tax – Treasury Unaware of Written off Tax

Written off Tax – Treasury Unaware of Written off Tax

Written off tax – £10.9 billion of unpaid tax was written off in 2009/2010 by HMRC, without the Treasury being aware this was the case until now.

The loss of revenue has been caused by cutting criminal negligence claims.

The findings have come after they appeared on the Whole of Government Accounts (WGA).

Officials’ evidence has suggested that the Treasury’s understanding of some aspects was “poor.”

A cross party group of MPs report said: “The Treasury showed surprise at the estimated £10.9 billion in outstanding tax and it had no knowledge of recent trends in clinical negligence claims or whether plans were in place to reduce the estimated £15.7bn cost to taxpayers meeting these claims.”

The report added: “We were surprised to find that [the] Treasury did not have a grip on trends in some key areas of risk or plans for managing them.

Ricky Steedman

Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.

His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.

Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.

Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.