https://x.com/bitcoinnewscom/status/2112202536283230340
š¬š§ UK TAX AUTHORITY RESUMES DIRECT SEIZURES FROM BANK ACCOUNTS
HMRC has reinstated powers suspended during the pandemic that allow it to recover unpaid taxes directly from individualsā and businessesā bank accounts without obtaining a court order.
The policy, restarted in a ātest and learnā phase in 2025, applies to tax debts of Ā£1,000 or more and allows HMRC to withdraw funds from current accounts and cash ISAs.
Safeguards include:
ā¢ A minimum of Ā£5,000 must remain in the debtorās accounts.
ā¢ HMRC must make a face-to-face visit before initiating recovery.
ā¢ Debtors have 30 days to appeal before any funds are transferred.
ā¢ Vulnerable individuals and those experiencing financial hardship may receive additional protections.
The powers allow the government to compel banks and building societies to transfer funds directly to HMRC to settle outstanding tax liabilities.
@Bitcoin News
19.10.26
š¬š§ UK TAX AUTHORITY RESUMES DIRECT SEIZURES FROM BANK ACCOUNTS
HMRC has reinstated powers suspended during the pandemic that allow it to recover unpaid taxes directly from individualsā and businessesā bank accounts without obtaining a court order.
The policy, restarted in a ātest and learnā phase in 2025, applies to tax debts of Ā£1,000 or more and allows HMRC to withdraw funds from current accounts and cash ISAs.
Safeguards include:
ā¢ A minimum of Ā£5,000 must remain in the debtorās accounts.
ā¢ HMRC must make a face-to-face visit before initiating recovery.
ā¢ Debtors have 30 days to appeal before any funds are transferred.
ā¢ Vulnerable individuals and those experiencing financial hardship may receive additional protections.
The powers allow the government to compel banks and building societies to transfer funds directly to HMRC to settle outstanding tax liabilities.
@Bitcoin News
19.10.26
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