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HMRC and Treasury owed over £22 billion in unpaid debt

Over £22 billion in unpaid debt is owed to the HMRC and Treasury.

The UK government departments, mainly the Treasure and the Cabinet Office are owed £22billion. A serious plan is now being called for in order to manage and collect the debt owed.

The majority of the debt is owed to HMRC through un paid taxes, around £15 billion.

Funds that were owed to HMRC has actually dropped by £5.5 billion over the pat 4 years, however some of this was due to tax credits that were written off.

The Treasure and the Cabinet Office are working on a plan that involved a cross government strategic plan for debt collection which will ultimately lead to increased debt collections. However this has taken a very long time and improvements are yet forthcoming. Some authorities are suggesting we now should seriously consider the effectiveness of hiring commercial debt collectors.

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