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Unrecovered Debt (Liquidation)

Volume 961: debated on Wednesday 24 January 1979

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asked the Chancellor of the Exchequer what was the total sum of unrecovered debts in the last financial year owing to the Inland Revenue, caused by its inability to collect PAYE and national insurance contribution payments from companies which have gone into liquidation.

This figure is not available.However, in the accounting year to 31 October 1977, Inland Revenue wrote off £3·7 million PAYE and £172,000 national insurance contributions due from employers, including companies, on grounds of insolvency and bankruptcy. In addition, in the year to 31 March 1978, the Department of Health and Social Security in cases transferred by Inland Revenue similarly wrote off £1·96 million national insurance contributions.