HM Revenue & Customs annual accounts 2019-20

6th November 2020

The C&AG has reported on the 2019-20 accounts of HM Revenue & Customs.

Gareth Davies, the Comptroller and Auditor General (C&AG) of the National Audit Office, has reported on the 2019-20 accounts of HM Revenue & Customs. His report focuses on: HMRC's performance against its objective of collecting revenues; the income tax system; HMRC's approach to the strategic challenges it faces; the causes and rate of error and fraud in Personal Tax Credits; and the future challenges presented by the replacement of tax credits by Universal Credit and the impact of COVID-19.

The C&AG has qualified his regularity audit opinion on the 2019-20 Resource Accounts because of material levels of error and fraud in Personal Tax Credits expenditure; the material level of error and fraud in research and development Corporation Tax reliefs; and HMRC having breached its Net Cash Requirement Parliamentary control total.

Read the Overview HERE This is a quick and very bright report easy to read.

HM Revenue & Customs annual report and accounts 2019-20 The full accounts 333 pages of details.