The amount of tax owed to the UK will likely continue to outpace collections this year because of economic factors, HMRC’s top official told Parliament on Thursday.
“We are continuing to see new debt arise at much higher levels than we would have seen in the past, prior to this economic downturn and the pandemic,” said Jim Harra, chief executive of Chief Executive of His Majesty’s Revenue & Customs. “Whilst we are clearing debt quickly, record productivity levels, we are not keeping up with debt.”
- As a result, the tax debt, which stood at £42 billion ($52 billion) for the ...
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