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HMRC considering prize for early tax returns

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Tax-dodgers and the eternally forgetful could be given a major incentive you file their tax returns early, after the HMRC unveiled plans to enter all early filers into a prize draw for £100,000, according to the Daily Telegraph.

Anyone who files two months early could have a chance at a £100,000 prize under suggestions made by David Cameron’s Behavioural Insight Team – which believes the scheme could save the HMRC million in chasing late payments.

A prize draw could increase numbers filing their tax return online early and encourage people to pay their tax on time, said a spokesperson, resulting in increased efficiencies for HMRC.

“Anything that encourages more people to file and pay on time would therefore be a good thing,” added the spokesperson.

The idea follows a similar scheme run by certain local authorities, which incentivised people to pay their council tax by direct debit.

But while the draw could come in as early as this year, the tax office said that “options are still being considered” on whether the draw is a good idea, and that no decision has been taken as yet.


Written by Andrew Hodges

January 21, 2012 at 10:17 am

Posted in Comment, LinkedIn

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