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The Inland Revenue collects over £200 billion a year in tax and National Insurance contributions from 30 million taxpayers, ranging from individuals to multinational corporations. The total amount of debt from unpaid taxes stood at £12 billion at the end of March 2004, of which £3 billion was more than a year old. Following on from a NAO report (HCP 363, session 2003-04; ISBN 0102927596) published in March 2004, the Committee has examined the progress made by the Inland Revenue to speed up debt recovery, whether more can be done to encourage prompt payment and the application of good practice in debt management. Findings include that the Department should impose a surcharge on persistent late payers; use other government departmental records to find taxpayers it cannot trace; seek additional powers for enforcing debts similar to those of other tax authorities; and include debt management data in its performance measures.
VAT missing trader fraud is a large-scale criminal attack on the EU VAT system, which costs the UK exchequer approximately £1 billion a year. Although the Department has been trying to tackle this fraud for six years, they still have not stemmed the flow of tax losses. Recently they obtained authority to introduce the special measure of "reverse charge" for mobile phones and computer chips but this can only be a provisional solution. The problem can only be tackled at EU level and ultimately the European Union will have to agree a new legislative framework for administering VAT.