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....The Treasury argues that in some instances corporate tax relief is only a fraction of the total help on offer. One example is R&D tax credits, which account for £2bn of the £10bn spent supporting research and development. ... [Read full article on Guardian ]
Sunday 20th of August 2017 06:00:35 AM
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....The company has earmarked a €50m fund to create TV series – some of which may be adaptations from its film slate – with a number expected to focus on the the high-end £1m-per-episode range. This level of spending makes productions eligible for the government’s attractive tax credit programme, which has been taken advantage of by dramas such as Netflix’s £100m The Crown, HBO’s Game of Thrones and Amazon’s Outlander. ... [Read full article on Guardian ]
Sunday 20th of August 2017 02:03:45 PM
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Latest Finance News related to Tax Credit

Silver Reel is latest production firm to move into UK TV market image
Source : Guardian [Read Article] Sunday 20th of August 2017 02:03:45 PM
....The company has earmarked a €50m fund to create TV series – some of which may be adaptations from its film slate – with a number expected to focus on the the high-end £1m-per-episode range. This level of spending makes productions eligible for the government’s attractive tax credit programme, which has been taken advantage of by dramas such as Netflix’s £100m The Crown, HBO’s Game of Thrones and Amazon’s Outlander. ...
There are now more than 1,000 tax relief schemes. Give us a break image
Source : Guardian [Read Article] Sunday 20th of August 2017 06:00:35 AM
....The Treasury argues that in some instances corporate tax relief is only a fraction of the total help on offer. One example is R&D tax credits, which account for £2bn of the £10bn spent supporting research and development. ...
Buy-to-let landlords: Five top tips that could save you THOUSANDS image
Source : Daily Express [Read Article] Wednesday 9th of August 2017 08:30:00 AM
....However, some tax benefits have been cut and higher rate payers can no longer claim 40 or 45 per cent relief on mortgage interest payments. Now they pay tax on their full rental income and get a reduced tax credit instead, phased in over four years and worth just 20 per cent in the 2020/21 tax year. ...
We let the 2007 financial crisis go to waste | Torsten Bell image
Source : Guardian [Read Article] Wednesday 9th of August 2017 05:00:01 AM
How Britain fell out of love with the free market image
Source : Guardian [Read Article] Friday 4th of August 2017 05:00:34 AM
....In the late-90s, the economy started growing more consistently, as part of a technology-driven boom across the western world, and Hutton’s view of Britain began to seem too pessimistic. On winning power in 1997, Labour left most of the structure and practices of Thatcherite capitalism in place, and rather than question its rationale, they used swelling tax revenues to soften its social effects, for example through tax credits to subsidise low wages. ...
Free childcare to DOUBLE for parents from September - Government announce image
Source : Daily Express [Read Article] Monday 31st of July 2017 03:13:00 PM
....Again, parents must be earning at least £120 a week and less than £100,000 a year. However, you can't use tax-free childcare if you're claiming childcare vouchers, universal credit, working tax credit or child tax credit. ...
Elon Musk hands over first Tesla Model 3 electric cars to buyers image
Source : Guardian [Read Article] Saturday 29th of July 2017 04:59:50 AM
....The over half a million reservations are up from about 373,000 disclosed in April 2016. Customers pay $1,000 refundable deposits for the car, which is eligible for tax credits. ...
UK film industry on a roll as it helps keep economy growing image
Source : Guardian [Read Article] Wednesday 26th of July 2017 02:44:53 PM
....The TV production industry is also enjoying a golden age of investment, with deep-pocketed new arrivals such as Netflix pouring £100m into royal series The Crown and Amazon investing in Jeremy Clarkson’s The Grand Tour and historical drama Outlander. This investment has rocketed due to a film-style tax credit introduced in 2013 for shows costing at least £1m an episode. ...
How to beat summer holiday childcare costs as prices soar 50 per cent image
Source : Daily Express [Read Article] Tuesday 25th of July 2017 08:11:00 AM
....Family Lives, a charity with over 30 years experience helping parents said that parents “need more help from the Government”. Working parents are entitled to tax credits and childcare vouchers but many do not make use of them. ...
Big-budget films receive increase in tax relief to almost £600m image
Source : Guardian [Read Article] Thursday 20th of July 2017 05:30:42 PM
....The test includes criteria such as the cultural content of a production, how much of it is shot in the UK and the proportion of stars and crew who are from Britain or Europe. The government’s tax credit system has proved hugely successful in stopping big-budget film and TV productions, as well as talent such as games makers and special effects workers, going to cheaper locations such as eastern Europe or to other countries offering bigger incentives. ...
Risk of poverty in UK greater when father is sole breadwinner, finds IFS image
....“With men’s earnings growing so slowly over the last 20 years, it has become increasingly hard for families dependent on the father’s earnings alone to keep up with other families,” said Jonathan Cribb, a senior research economist at IFS and an author of the report. “The average incomes of one-earner couples with children have not grown at all since the early 2000s, and the only reason that they are any higher than in the mid-1990s is the greater generosity of benefits and tax credits. ...
Family of four needs 'at least' £40,800 a year, says thinktank image
Source : Guardian [Read Article] Thursday 6th of July 2017 05:01:34 AM
....20 to £7. 50, the gains had been offset by the rise in the cost of living, the freeze on tax credits and benefits, and wage increases being clawed back through reduced in-work benefits. ...
Productivity usually bounces back after a recession – why hasn't it? image
Source : Guardian [Read Article] Wednesday 5th of July 2017 11:41:14 AM
....Governments have also used a carrot-and-stick approach to get the jobless back to work. They have tightened up eligibility for unemployed benefits while simultaneously providing tax credits to boost low wages. ...
Buy-to-let UK property sales fall by almost 50% in a year image
Source : Guardian [Read Article] Thursday 22nd of June 2017 05:45:48 PM
.... But this interest relief is being slashed from 100% to zero. Instead, the income tax on someone’s property profits and any other income sources will be added up, and they will then be granted a “tax credit” worth 20% of the mortgage interest cost to offset against income tax. ...
Election 2017: What now for your finances? image
Source : BBC [Read Article] Friday 9th of June 2017 09:06:04 AM
.... These include Jobseeker's Allowance, Employment and Support Allowance, some types of housing benefit, and child benefit. There is also a cap on local housing allowance, limits to certain elements of tax credits, and a 1% pay rise cap for public sector workers until 2020 - all of which have proved unpopular among a large swathe of the electorate. ...
The study that shows life is a lot more unequal than you (probably) think image
....A further conclusion is that people’s own belief about whether they would benefit from a policy appears to be more important than ideology. This would imply that public support is likely to be higher for programmes which benefit everyone, such as universal healthcare provision, compared to those that target beneficiaries, such as tax credits for a select group. ...
Tax on test: do Britons pay more than most? image
Source : Guardian [Read Article] Saturday 27th of May 2017 06:00:20 AM
....Its 20% and 40% standard tax bands are identical to Britain – but start at a much lower level. Unlike the UK’s £11,500 personal allowance, the Irish don’t have one in the same sense – rather a tax credit that reduces their bill by €3,300. ...
Record 60% of Britons in poverty are in working families – study image
Source : Guardian [Read Article] Monday 22nd of May 2017 04:11:53 PM
....”. The rise of in-work poverty should be tackled through three main policies, the report says: greater provision of free and affordable childcare to enable both adults in a household to work; a reversal of cuts to tax credits and universal credit; and action to tackle high rents in the private rented housing sector. ...
$6.40 an hour for nine years: how I got stuck in a career as a Walmart employee image
....I was disillusioned with politicians on both sides of the aisle who didn’t seem to give a damn about people who weren’t in poverty but made less than $30,000 a year. I made too much to qualify for federal tax credits to buy inexpensive health insurance under Obamacare. ...
Theresa May is creating an epidemic of poverty. Don’t give her a free hand | Gordon Brown image
.... That rate was falling to nearly one in 10 by the time Labour left office. But those numbers will start deteriorating again, with 400,000 more elderly poor by 2022: a sure sign that a pensions lock and generous pension tax credits are a necessary bulwark against hardship in old age. ...
Theresa May will cause more poverty than Thatcher, Gordon Brown warns image
....People are judged to be living in relative poverty if they are in a household that has to manage on less than 60% of median income. Brown’s budgets during his 10 years as Tony Blair’s chancellor focused on measures to reduce poverty, including the introduction of tax credits for the working poor and increases in child benefit. ...
The German economy is unbalanced – but Trump has the wrong answer image
....The problem is that there is no guarantee that German households, being voracious savers themselves, will spend the additional income. Extending investment tax credits to German firms might be more effective in boosting spending, but doing so would be politically problematic in a country where labor’s share of national income is already declining. ...
Falling real pay shows the British economy is still struggling | Larry Elliott image
....So how strong is an economy where employment is only going up because workers are pricing themselves into jobs by taking real wage cuts, and employers are taking advantage of an abundance of low-cost labour to skimp on investment? The answer is not very strong at all. Indeed, what you really have is a low-productivity economy where large numbers of people rely on tax credits (now being made less generous) in order to make ends meet. ...
Poor working families face big losses from benefit cuts, says IFS image
Source : Guardian [Read Article] Thursday 27th of April 2017 04:57:27 PM
....Low-income working families face significant reductions in income as a result of planned cuts to benefits, according to the Institute for Fiscal Studies (IFS). The thinktank says the freeze in benefit rates and cuts to child tax credit, coupled with the rollout of universal credit, which has become less generous as a result of changes to work allowances, signal “large losses” for low-income households. ...
Working mothers face pay and childcare challenges, reports find image
Source : Guardian [Read Article] Saturday 22nd of April 2017 09:01:27 PM
....A report by the Institute for Public Policy Research this month found that the cost of childcare had risen to the point where some parents in low-income families effectively “pay to work”. The thinktank blamed a lack of support under the current system of tax credits as much as it did spiralling nursery charges. ...
With a whiff of sulphur, George Osborne was gone – but for how long? | Polly Toynbee image
.... This month over £12bn benefit cuts fall on the low-paid, the sick and disabled. His raising of the minimum wage barely touches what he took away in tax credits within universal credit, in benefit freezes, and in ever rising bars to qualify for anything. ...
Mayoral candidate pledges free childcare for Liverpool parents image
Source : Guardian [Read Article] Tuesday 18th of April 2017 06:00:21 AM
.... But under proposals that Morton will lay out at Blackburne House in Liverpool on Tuesday, parents will get 15 hours free each week after the end of parental leave at nine months, paying just £1 for every additional hour. In England, parents currently receive 15 hours free only after their child’s second birthday and if they are receiving benefits including tax credits and jobseeker’s allowance. ...
Child Tax Credit changes come into force TODAY – what it means for YOU image
Source : Daily Express [Read Article] Thursday 6th of April 2017 10:54:00 AM
. Under the new rules, babies born into families that already have two children will not get any extra help through tax credits or universal credit. ...
The Guardian view on rising personal debt: more prudence please | Editorial image
.... The most common reason people get into unmanageable debt is a drop in their income. A growing number of low-income families face a grim mix of stagnant wages, increasing inflation and huge cuts to tax credits and benefits in the coming years, which will force growing numbers of people towards unsustainable debt. ...
Welfare shakeup 'will push a quarter of a million children into poverty' image
.... They were announced when George Osborne was chancellor and are being enacted by Theresa May’s government. One of the changes means all households that have a third or subsequent baby will – aside from a limited set of exemptions – no longer be able to claim child tax credits. ...
Osborne’s huge tax giveaway starts for rich – as the poor are hit image
Source : Guardian [Read Article] Saturday 1st of April 2017 11:05:38 PM
....The reforms, set in train by former chancellor George Osborne, run directly contrary to the political mantra of Theresa May, who has said she wants to govern in the interests of everyone and “not just the privileged few”. The changes include raising the personal tax allowance from £11,000 to £11,500; lifting the threshold for higher-rate tax from £43,000 to £45,000; freezing all working-age benefits; removing the family element (£545) from tax credits and universal credit for new claims or births; and applying a two-child limit to new claims or births in the tax credit system. ...
Mortgage tax relief cut doesn’t add up for buy-to-let landlords image
Source : Guardian [Read Article] Saturday 1st of April 2017 06:00:17 AM
.... But this interest relief is being slashed from the current 100% to zero, the change being phased in gradually between April 2017 and April 2020. What will happen instead is that the income tax on someone’s property profits and any other income sources will be totted up, and they will then be granted a “tax credit” worth 20% of the mortgage interest cost to offset against income tax. ...
Cash in the pocket image
Source : BBC [Read Article] Friday 31st of March 2017 09:16:50 PM
Hammond was right to raise tax for self-employed, inquiry to say image
Source : Guardian [Read Article] Wednesday 29th of March 2017 01:13:37 PM
....The comments came after Hammond performed a U-turn from the one standout announcement in his first spring budget speech, following a revolt by backbench Conservative MPs opposing national insurance increases on the self-employed. The committee also heard from Damian Hinds, the employment minister, who confirmed that self-employed people – who now number almost 5 million – cost the welfare system more than employed people in terms of tax credits and old age benefits on average. ...
Protesters target Connecticut's uber wealthy with 'tax bills' in bid to end loophole image
.... Lindsay Farrell, state director of Working Families in Connecticut, a nonprofit that organized the weekend protest, said the new deal could cost another 4,200 jobs. “The only change is a tax credit on estate taxes,” said Farrell. ...
Populism is the result of global economic failure image
Source : Guardian [Read Article] Sunday 26th of March 2017 01:23:10 PM
....This quest for ever-greater labour market flexibility has had some unexpected consequences. The bill in the UK for tax credits spiralled quickly once firms realised they could pay poverty wages and let the state pick up the bill. ...
'Backward on pay' image
Source : BBC [Read Article] Sunday 26th of March 2017 12:34:24 AM
Lords call for the banks to get back to basics image
Source : Guardian [Read Article] Saturday 25th of March 2017 07:00:02 AM
....95 a month), plus other fees, and it is also not covered by the Financial Services Compensation Scheme. There is also the Post Office Card Account, which you have to apply for by phone and is described as “an easy way to receive state pensions, benefits and tax credits without a bank account”. ...
UK film industry 'needs government support' after Brexit image
Source : BBC [Read Article] Friday 24th of March 2017 10:29:58 AM
....The most recent Star Wars film, Rogue One, made by Disney, was shot in the UK. One-quarter of the production costs of UK-made films is essentially borne by taxpayers, as movie production gets a 25% tax credit. ...
A ‘jobs miracle’ that leaves millions worse off | Observer editorial image
....This insecurity means that many families are living an incredibly precarious existence: if economic growth were to dip, there are millions of workers who could effectively be laid off at a moment’s notice. This is playing out against a backdrop of declining living standards for low-income families, as sluggish earnings growth is being compounded by significant cuts to tax credits and benefits in the coming years. ...
New bombshell for self-employed: pay 400% more NICs… or lose state pension image
.... I’d say probably older women whose husbands work or are retired, and who are suddenly going to have this huge change put upon them. For example, if you have a husband working who earns enough so that you don’t get tax credits. ...
Tax credit 'rape clause' becomes law without parliamentary vote image
Source : Guardian [Read Article] Thursday 16th of March 2017 12:10:57 PM
. A controversial proposal to ask new mothers who have been raped for verification if they wish to claim tax credits for more than two children has become law without any debate or vote in parliament. ...
Good riddance to the unfair NIC tax rise. Now what about that £2bn black hole? | John McDonnell image
.... And did they not think to intervene, block the measure, and save the worry for millions of families?. This is the third Tory budget in a row that has resulted in a major U-turn: 2015 saw the tax credits shambles, with cuts in the budget reversed by the autumn statement. ...
Budget 2017: tax on dividends will be a raid on 2 million small investors image
....The chancellor announced he was slashing the tax-free dividend allowance from £5,000 to £2,000 from April 2018. This allowance only came into being in April 2016 (it replaced the dividend tax credit) and is basically the threshold at which point people have to start paying tax on dividend income from shares. ...
The Guardian view on trust in politics: pledges and conventions matter | Editorial image
....There is nothing illicit about this arrangement, but there is something distasteful about the architect of many people’s hardship cashing in when there is still so much pain yet to come. As the Institute for Fiscal Studies noted yesterday in its evaluation of the budget, cuts to employment support allowance and tax credits that take effect this April will be felt more keenly and by more people than the rise in national insurance contributions (NICS) for some self-employed workers – including, as it happens, Mr Osborne – that has become the object of a Tory rebellion. ...
Budget 2017: NHS, families, cars - your questions answered image
Source : BBC [Read Article] Wednesday 8th of March 2017 05:14:18 PM
.... But a decision made in January - and confirmed today - might affect families. As announced by the previous Chancellor George Osborne, child tax credit and universal credit will not be available to any third or subsequent child born after the start of the new tax year. ...
Philip Hammond’s budget – our writers give their views | Polly Toynbee, Zoe Williams, Frances Ryan, Faiza Shaheen and Kate Maltby image
....But what stood out most glaringly were the areas not given a single mention. Remember, £12bn of working-age “welfare” cuts were already set in motion last year and are coming this April – from the “two-child limit” on child tax credits and universal credit squeezes to out-of-work sickness benefits. ...
Budget will hold no big surprises on spending or tax, chancellor says image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:33:22 AM
....5bn, or 6%, by the end of the parliament. This sum is in addition to departmental cuts already going through the system and £12bn of welfare cuts targeted at housing benefit and tax credit claimants, which will deliver real-terms cuts in every year and maintain the combined cost of these two benefits at £50bn until 2019-20. ...
Hammond urged to tackle 'catastrophic' effect of rising inflation image
Source : Guardian [Read Article] Monday 6th of March 2017 01:13:37 PM
.... But in many ways the worst affected group might be those ‘ordinary working families’ on lower incomes who will face a double whammy of lower pay growth and benefit cuts,” said Bell. “That’s because the tax credits and other benefits they rely on are frozen for the next three years as part of the government’s attempt to cut the social security bill. ...
Buy-to-let landlords face huge tax increase from new law image
Source : Daily Express [Read Article] Sunday 5th of March 2017 12:01:00 AM
....This effectively gives them relief at 20, 40 or 45 per cent, depending on their tax bracket. In the future, they will pay tax on their full rental income and get a tax credit instead, which will be phased in over four years and worth just 20 per cent in the 2020/21 tax year. ...
Seven things we already know will happen in the 2017 spring budget image
Source : Guardian [Read Article] Saturday 4th of March 2017 06:59:08 AM
....Few expect a dramatic budget on Wednesday, with Philip Hammond likely to keep cash in reserve to resuscitate the economy if it tanks post-Brexit. But because chancellors have a habit of pre-announcing policies long before they happen, we already know the major changes in income tax, national insurance, tax credits and welfare benefits that come into effect on 6 April. ...
Work-around image
Source : BBC [Read Article] Wednesday 22nd of February 2017 12:56:12 AM
.... . "Once I hit a threshold of £73 a week they start drastically reducing the housing benefit which effectively means I'm not taking a salary and I'm having to rely on my tax credits to basically feed me and keep the house warm. ...
Inflation could push 4m more Britons below poverty line, study finds image
Source : Guardian [Read Article] Wednesday 15th of February 2017 12:01:18 AM
....At least 4 million people are at risk of falling below the poverty line because of rising food and fuel prices, a new study from the Joseph Rowntree Foundation has warned. The cost of living could rise by up to 10% by 2020, increasing pressure on household budgets, the foundation said, with the impact worsened by a freeze on tax credits and working age benefits. ...
Booming gig economy costs £4bn in lost tax and benefit payouts, says TUC image
Source : Guardian [Read Article] Tuesday 14th of February 2017 07:01:36 AM
....The UK’s growing legions of low-paid, self-employed workers and those on zero-hours contracts earn significantly less than regular employees and therefore pay less tax and national insurance. Their relatively low earnings also make them more likely to need to rely on in-work benefits such as tax credits and housing benefit, the TUC said. ...
Osborne’s bleak Brexit forecast ‘has undermined the Treasury’ image
Source : Guardian [Read Article] Sunday 12th of February 2017 12:04:29 AM
....Under Gordon Brown and Osborne – and to a lesser extent Alistair Darling – the Treasury’s influence extended right across the government, not just controlling the purse strings, but shaping policy in a range of other areas, from welfare reform to transport. Kerslake suggests it may have overreached itself, warning that its diminished reputation today, after the financial crisis, the “omnishambles” budget, U-turns over tax credit cuts and the Brexit forecasts, may be “potentially a consequence of departmental cultural hubris”. ...
Young and bereaved – and now facing cuts to crucial financial support image
Source : Guardian [Read Article] Sunday 29th of January 2017 07:00:17 AM
....But this is not the position the department takes towards other benefits. “It seems odd to treat cohabiting partners as a couple for means-tested benefits or tax credits when they are both alive, but then refuse to recognise the significance of their relationship when one of them dies,” says Penny. ...
Friday afternoon conveyancing fraud, plus the merits of 10-year mortgages image
Source : Guardian [Read Article] Thursday 19th of January 2017 02:49:16 PM
....UK housing market falters as estate agents become less optimistic. Grandparents miss out on tax credits that could boost state pension. ...
It’s time to rewrite the rules of economics to end the growing chasm of inequality  | Liam Byrne image
....If you’re lucky enough to own a house or shares or pension rights, you’ve done well since 2010: the stock market is up 40%; house prices are up by over a quarter; and the “triple lock” on pensions in the UK will have channelled more than £33bn extra to those with pension rights by 2020. Yet those on tax credits have seen their incomes fall precipitously while, of course, benefiting not at all from asset-price inflation; needless to say, they have little if any pension rights to protect. ...
UK inflation: now it's the pound in your pocket being devalued image
Source : Guardian [Read Article] Tuesday 17th of January 2017 12:25:44 PM
....Bank of England policymaker Michael Saunders said last week that developments in the labour market such as zero-hour contracts and agency working meant wages were unlikely to take off any time soon. The government has pledged to double down on austerity from April, with cuts to tax credits and other benefits as well as the savings made over the last five years. ...
HMRC criticised over spiralling payments to outsourcing firm image
Source : Guardian [Read Article] Tuesday 17th of January 2017 12:01:23 AM
....HMRC ended its deal with Concentrix in November last year, although the contract was supposed to run until May. Auditors found that during the two-year contract there were 108,000 cases where claimants’ tax credits were adjusted or terminated. ...
Bleak trend of low, part-time wages in UK is revealed image
Source : Guardian [Read Article] Friday 13th of January 2017 06:01:09 AM
....Benefits for the low paid, which until recently kept pace with inflation, have also influenced the income gap. Successive governments used tax credits and housing benefit to close the growing income deficit faced by low-paid households, though austerity cuts in recent years have reversed the trend. ...
Happy new year? 2017 rings in more commuter misery and higher bills image
Source : Guardian [Read Article] Monday 2nd of January 2017 06:59:18 AM
....These changes, which will see mortgage interest deductions slashed from 100% to zero, will be phased in between this coming April and April 2020. Instead, when income tax on a landlord’s profits from their property, and any other income sources, are totted up they will be granted a “tax credit” worth 20% of the mortgage interest to offset against income tax, whatever rate they pay. ...
What the US economy doesn't need from Donald Trump | Joseph Stiglitz image
Source : Guardian [Read Article] Monday 19th of December 2016 11:19:56 AM
.... It is an open invitation for a shakedown of the government by corporate executives seeking handouts. Similarly, the increase in infrastructure spending is likely to be accomplished through tax credits, which will help hedge funds, but not America’s balance sheet: such programmes’ long track record shows that they deliver little value for money. ...
2016: the year Britain got (a little bit) richer image
Source : Guardian [Read Article] Saturday 17th of December 2016 07:00:15 AM
....What about 2017? Earnings growth is faltering and prices rising. Worse, the axe falls on tax credits in April, hitting the poorest families hardest. ...
How a healthy buy-to-let profit could soon become a painful loss image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
.... But this interest relief is being slashed from 100% to zero. What will happen instead is that the income tax on someone’s property profits and any other income sources will be totted up, and then they will be granted a “tax credit” worth 20% of the mortgage interest cost to offset against income tax, whatever rate of tax they pay. ...
Uber is treating its drivers as sweated labour, says report image
Source : Guardian [Read Article] Friday 9th of December 2016 01:51:59 PM
.... I made £40 cash, then had to put in £30 in petrol. ” Another described his work as being so low paid he received working tax credits from the state despite working very long hours. ...
Demand is weak and investment’s faltering. That’s OK then image
Source : Guardian [Read Article] Sunday 4th of December 2016 07:00:07 AM
.... At the moment, businesses and the government are sucking demand out of the economy. In the autumn statement, the chancellor extended austerity into a third parliament, with cuts to disability payments and tax credits. ...
MPs warn of tax phone line 'collapse' image
Source : BBC [Read Article] Friday 2nd of December 2016 03:23:39 AM
....". The committee also restated its concern about the "unnecessary hardship and suffering" to tax credit claimants caused by HMRC's failed contract with private firm Concentrix to tackle fraud and error and urged greater transparency about the tax affairs of multinational corporations to ensure they "pay their fair share of tax". ...
'Disastrous decline' in HMRC customer service predicted due to cuts image
Source : Guardian [Read Article] Friday 2nd of December 2016 12:01:00 AM
....On Thursday, the work and pensions committee castigated both Concentrix and HMRC for a series of disastrous errors that amounted to “a gross failure of customer service”. The public accounts committee has restated their concern about the “unnecessary hardship and suffering” to tax credit claimants caused by HMRC’s failed contract with the private US firm. ...
Families on tax-credit harassment: 'a massive headache and real worry' image
Source : Guardian [Read Article] Wednesday 30th of November 2016 10:52:18 AM
....Since its introduction in 2003, the tax-credit system has been plagued with problems. For more than a decade, HM Revenue & Customs has struggled to respond swiftly to families’ changing circumstances, resulting in hundreds of thousands of people unwittingly owing money after being overpaid working tax credit and child tax credit. ...

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