HMRC: Are they Britain's biggest bank?
Opinion suggests that HMRC are acting like the lender of last resort rather than a tax collector. The bad debt provision as at 31 March 2009 stands at £11.2 billion – 40% of the total owed, we have yet to see figures for the current financial year. The figure owing could now be over £30 billion leading to the HMRC acting more like a lender than tax collector.
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