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HMRC's new debt recovery powers - comment from Paul Winter

Paul Winter, Chief Executive, Ipswich Building Society commented on HMRC's new debt recovery powers:

"Individuals and businesses have a legal and moral obligation to pay their taxes in full and on time. HMRC has an incredibly difficult job to do in collecting tax and chasing debts, made more difficult by complex tax avoidance schemes. These new powers to directly recover tax debts from banks and building society accounts is a step too far and could encourage savers to cash out their own savings. We think that the existing powers of Court Orders remain sufficient. In any case tax dodgers can simply move their money abroad."

Your home may be repossessed if you do not keep up repayments on your mortgage.