Tax credit overpayment near £6bn
Nearly £6bn has been overpaid to tax credit claimants since launch in 2003, HM Revenue & Customs has said.
In the 2005/2006 tax year alone £1.7bn was overpaid to tax credit claimants, some of this money is likely to be written-off.
The new tax credit system started in 2003, but it has been plagued by complexity, overpayments and fraud.
But the Revenue says tax credits help millions of low income families back into work and out of poverty.
Source: bbc.co.uk
Please post any news stories about IVAs here:
http://www.iva.co.uk/forum/default.asp?CAT_ID=5
See my Blog:
http://ivanews.blogs.iva.co.uk
