If HMRC know that £1.5bn of tax credit payments were lost to " fraud, accidental overclaims and other errors" in 2006/07, why can't they prevent them!?!
Is HMRC more likely to over or under-estimate the amount lost!?!
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They deliberately underestimate it.
About half of all the tax credits that are overpaid are treated as 'recoverable overpayments' rather than being being written off. Which is why that bit of HMRC's accounts have received a qualified audit for the last seven years.
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