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In our June 2014 report on tax reliefs we concluded that the exchequer departments did...
Conclusion
In our June 2014 report on tax reliefs we concluded that the exchequer departments did not respond promptly to unexpected increases in the costs of reliefs. We found that HMRC took time to react when it noticed a cost increase as it wanted to ensure that its response was appropriate, but that this increased the amount of public money at risk.50 In March 2015 we questioned whether entrepreneurs’ relief was value for money given it was costing £2 billion more than forecast. HMRC told us that the cost variation was due in large part to changes in the scope of the relief. It told us that it had no evidence to suggest that there was systematic abuse of entrepreneurs’ relief and no evidence to suggest that Parliament’s intentions were not being achieved.51
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