HMRC accessing bank accounts – should you be worried?
Once the Finance (No 2) Act 2015 receives Royal Assent (likely to be in late September or early October), HM Revenue & Customs (HMRC) will gain powers to collect tax debts directly from taxpayers’ bank accounts.
The debts affected by this include any tax liability, penalties, interest, overpaid tax credits and amounts included in an Accelerated Payment Notice.
HMRC have said that these powers are aimed for those who won’t pay rather than those who can’t pay, and as such there are certain safeguards which have been put in place.
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