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BBC News - HMRC failed to investigate tax relief scheme, watchdog finds
HM Revenue and Customs has not properly investigated why a tax relief scheme cost £2bn more than expected, according to the National Audit Office.
The spending watchdog found that a type of tax break known as entrepreneurs' relief cost the Treasury £2.9bn last year rather than the £900m predicted.
The NAO said that HMRC "did not try to definitively rule out abuse" when assessing the scheme.
An HMRC spokesman said "we robustly monitor" the way reliefs worked.
The criticisms emerged after the NAO conducted a review of 10 types of tax relief.
Entrepreneurs' relief, which was introduced in 2008, cuts the tax bill on the sale of small businesses.
BBC News - HMRC failed to investigate tax relief scheme, watchdog finds
HM Revenue and Customs has not properly investigated why a tax relief scheme cost £2bn more than expected, according to the National Audit Office.
The spending watchdog found that a type of tax break known as entrepreneurs' relief cost the Treasury £2.9bn last year rather than the £900m predicted.
The NAO said that HMRC "did not try to definitively rule out abuse" when assessing the scheme.
An HMRC spokesman said "we robustly monitor" the way reliefs worked.
The criticisms emerged after the NAO conducted a review of 10 types of tax relief.
Entrepreneurs' relief, which was introduced in 2008, cuts the tax bill on the sale of small businesses.
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