Taxman owes taxpayers £3bn

The taxman owes taxpayers in the UK as much as £3billion in tax overpaid, going back for more than 2 years, it was announced by the National Audit Office.

The National Audit Office put the blame on a backlog created by new computer system glitch, which involved 15 million taxpayers. The errors resulted in additional costs of £33 million and the loss of £55 million in planned efficiency savings!

It said that because of, the HMRC is also chasing unpaid taxes worth £1.4 billion.

(Our comment: What we have suspected from experience now confirmed: the taxman is hanging on to £3 bn in overpaid taxes and "doesn't want to give it back!")