On 6 May 2014 HMRC published its consultation on a new power, announced at Budget 2014, for the Direct Recovery of Debts. This power will allow HMRC to recover tax and tax credit debts directly from debtors’ bank and building society accounts, including Individual Savings Accounts. The consultation document outlines how this measure will work in practice.
The consultation seeks responses from anyone who could be affected by these proposed changes to HMRC’s debt enforcement powers.
The consultation closes on 29 July 2014.
To access the consultation documents click here.