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Tax Collection

HM Treasury written question – answered on 7th June 2016.

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Photo of Greg Mulholland Greg Mulholland Liberal Democrat Parliamentary Campaigns Chair

To ask Mr Chancellor of the Exchequer, what guidance he has given to HM Revenue and Customs on the use of powers in the Finance Act 2014 to issue accelerated payment notices for seeking retrospective tax payments.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

HM Revenue and Customs (HMRC) has the power to seek upfront payment of disputed tax in certain avoidance cases.

The legislation is not retrospective. It does not create any new tax liability; it simply alters where the tax sits while the liability is being disputed.

The taxpayer can continue to dispute the case and will be repaid with interest should they win.

At 31 March 2016 HMRC had issued over 46,000 accelerated payments notices, representing over £4.8bn of tax in dispute; and over £2.5bn had been received.

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