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HMRC looks to debt collection agencies for help

HMRC looks to debt collection agencies for help

Online accountants might want to warn their clients that in a bid to collect more in outstanding taxes, HMRC has signed contracts with 4 debt collection agencies.

The government hopes this will bring in another £140m over the current financial year.

The Revenue will give taxpayers the opportunity to pay, or make an arrangement to pay, before passing the outstanding debt on to one of the following limited company debt collection agencies; iQor Recovery Services, Credit Solutions, Fairfax Solicitors, Commercial Collection Services.

It was announced in the Emergency Budget in June that DCAs would be used to help HMRC pursue lower value debts. This decision followed a successful pilot scheme and the government has put safeguards in place to ensure the chosen companies operate to HMRC and industry standards.

The director of Debt Management and Banking at HMRC said that the Revenue understands that there are some individuals and businesses that cannot settle their outstanding tax liabilities and measures have been put in place to help people who are really struggling. But people who refuse to pay need to be chased and this partnership with the DCAs will ensure that they are.

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Image: 241/365 by kennymatic

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