Budget 2014: HMRC can now take money directly from your bank account

Buried deep in the Budget document, there’s a pretty significant HMRC power grab.

If officials decide you owe them money, they now have the ability to take it directly out your bank account. No insolvency proceedings, asset freezes or debt collection agencies. Just the government taking out whatever it thinks it’s owed.

There are restrictions. The power can only be used once you’ve received a couple of letter and a phone call from enforcement. It only applies to people who owe over £1,000. HMRC must leave at least £5,000 in your account.

Once they get the money they put it on hold for 14 days and you’ve got a chance to get in touch and set up a payment plan. If you don’t, or you still refuse to pay up, they go ahead and keep it.

All’s fair in tax dodging, you might think – and indeed that will be the sentiment that George Osborne hopes will override concerns about the policy.

But the plot thickens.



3 thoughts on “Budget 2014: HMRC can now take money directly from your bank account

  1. We’d be lucky to have £500 let alone £5,000! Who the hell gives permission to have their banks accounts opened up like this? NO-ONE, that’s who.
    Why don’t they close the loopholes that they have for the tax avoidance? Why don’t they just take out the billions that are owned from all the different companies? Or can’t they go into businesses bank accounts?
    God forgive me but I just want to shoot the whole fooking lot of them!

    • And theirs more Jay I have found out the Carers Allowance Disregard has gone up by a whopping £2 blimey that is not even equal to an hours work at NMW BLIMEY THEY ARE REALLY TAKING THE PISS.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.