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You may have heard that HMRC are proposing new rules on the Direct Recovery of Debts (DRD). HMRC recognise that:
'...there are concerns about the impact of this change on vulnerable members of society. We must ensure that there are strong safeguards in place so that this is only targeted at the truly non-compliant.'
HMRC estimate that:
The main safeguards before the DRD will apply are that:
The safeguards after implementation are that for 14 calendar days from the date of application of the measures, HMRC will not actually be given access to the monies. Instead, during that period, the monies will in effect, be blocked and the taxpayer will be able to make representations that:
If those representations are not accepted, the monies will be transferred to HMRC.
So it may not be as bad as you might have thought. We will keep you in touch with developments.
Why not contact Wilkes Tranter & Co Limited today for more information or a FREE no obligation quote.
The leaders of the UK and European Union signed the Withdrawal Agreement, and the UK left the EU on 31 January 2020.
Minister for Public Finance and Digital Economy, Kate Forbes, delivered the 2020/21 Scottish Draft Budget on Thursday 6 February 2020.