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When we examined tax reliefs in 2014 we found that HMRC published estimates of only...
Recommendation
When we examined tax reliefs in 2014 we found that HMRC published estimates of only 46 reliefs which had economic and social objectives.35 Since then HMRC has responded to our recommendations that it be more transparent. In October 2019, it published for the first time a list of all 362 tax reliefs with economic and social objectives.36 It has now reported costs for 158 of these reliefs and plans to reports costs for more reliefs over the next two years.37 However, in its public reporting HMRC does not compare the cost of tax reliefs to published forecasts.38
Government Response
A response document is linked to this report, dated 25 March 2021. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Inquiry
Management of tax reliefs
Report
Twelfth Report: Management of tax reliefs
20 Jul 2020
HC 379
Addressee Bodies
HM Treasury
Timeline
Recommendation age
6.1 yrs
Report published
20 Jul 2020