You may recall that EDS have paid £71 million to HMRC for their involvement in the ongoing Tax Credit fiasco. According to this weeks Private Eye they will get some sort of tax relief on this payment and in fact will only be out of pocket to the tune of £50 million or so.I seem to recall someone from HMRC saying that the settlement represented good value for money.
Is it me..........?

pc,

£20 million tax relief? how did the 'aggregate payment' negotiations go? lol!

EDS: we'll give to £50 million, not a penny more:
HM Treasury: Done. Only...do you mind awfully if we call it £71 million - it sounds better, and the tax relief is of course confidential. and we'll kiss your ass, goes without saying...

or maybe

EDS: name your sum, we'll agree to anything you say on condition that the very complicated aggregate payment calculation is worked out on our own computer systems and you will pay the final sum, no question.

HM Treasury. okey dokey.

http://www.rightsnet.org.uk/dc/dcboard.php?az=show_topic&forum=108&topic_
id=1538&mesg_id=1538&page=

any possibility of tax relief deductions on tax credit overpayments? didn't think so.

http://www.rightsnet.org.uk/dc/dcboard.php?az=show_topic&forum=108&topic_id=1538&mesg_id=1538&page=

sorry - hope this works

Is that the same HMRC that the Parliamentary Public Accounts Committee says failed to collect £13 billion of VAT in 2003/04 because of their failure to get to grips with fuel fraud?