Key HMRC change will ‘improve transparency’ as Brits’ benefits checked | Personal Finance | Finance
HMRC has marked a major milestone in its efforts to improve efficiency. The Valuation Office Agency (VOA) – the public sector’s property valuation experts and advisers, which provide the valuations needed to support local taxation and benefits – was assimilated into the department on April 1. This will “improve transparency”, the Treasury said. The VOA determines rental values to inform benefit payments, including local housing allowance – a way of calculating housing benefit or universal credit for private tenants in the UK, based on the area you live in and your household size – as well as council tax bands and business rates. Officials added: “The move will improve the experience of taxpayers and businesses, support HMRC’s delivery of the government’s commitment to reform the tax system and is expected to deliver between 5% to 10% of additional savings in Valuation Office administrative costs by the 2028 to 2029 tax year.” The Government has said it wants to “crack down” on universal credit fraud in order to recoup £1.3billion in overpayments. Officials said in December …
