HMRC recovers £26m in tax through advice grants
23rd January 2013 | NewsHM Revenue and Customs (HMRC) has revealed that £2 million was distributed in grants last year to help voluntary and community organisations give tax advice to people.
Indeed, the department said that this was an increase of 55 per cent on the amount given out in 2011, helping to train up 4,500 volunteers across the 12-month period.
The move also helped HMRC recoup £26 million in additional tax revenues as more people were able to provide accurate tax statements.
Exchequer Secretary David Gauke said: "I was very pleased at these results. They show that the grants are a cost-effective way of ensuring that vulnerable people on low incomes get the help they need with their tax affairs from an independent, trusted source."
Meanwhile, taxpayers who are yet to submit their 2011-12 self assessment tax return deadline online now have eight days to do so, or they'll be hit with an immediate £100 penalty.
Posted by Thomas Fletcher