M / s documents concerns about tax powers must visit

  who plans the tax authority for tax debt by accounts that the tax agency to settle unpaid claims by you to make money from people's bank accounts was criticized plans by a group of m/s allowing.

The Treasury Committee says that it is very concerned, because the financial officials have a history of failures.

Chancellor George Osborne unveiled the plan on this year's budget.

But in a comprehensive report, the Committee a new budget plan - allows greater flexibility as retirement savings be used to welcome.

In the budget, Mr Osborne discusses plans for new powers for HM Revenue and customs (HMRC) back tax debt from someone, of more than £1,000 in tax or tax credits owed.

Thus, the IRS would to take directly from the debtor bank accounts owed tax.

HMRC performance

But the Committee said problematic due to HMRCs performance in the past planned, since it was not for the exact calculation of the tax bills.

Read the main story new individual savings accounts (composed) % tax rate is tax-free up to £15,000 per year by July10 savings AbolishedNumber month £1 m premium bond prices rose to two generous premium bond savings LimitsNew pensioners bond for the over 65s shelter. "People should pay the correct amount of taxes. But HMRC asks not always for the right amount, "Committee Chairman Andrew Tyrie said.

"Some taxpayers find money taken their accounts, which should be paid back later. That would be unacceptable."

He said that the Committee had also "reserved" about changes in tax policy, the advance payment in the amount of disputed taxes associated would require avoiding tax.

"Review should be considered only in very exceptional circumstances. The latest measure would be justified on these grounds, said Mr Tyrie.

"Looking back relies on a slippery path arbitrary taxation policy, discourages investment and innovation and the scope for the great injustice create."

At the moment, the Committee Member said Mark Garnier, a Conservative MP, a court order, to be able to use money from accounts required the HMRC.

The Committee is concerned that the current system of checks and balances could be applied.

"That, as judge and jury will be concerned, what is... in the main HMRC" said Mr Garnier of the BBC.

HMRC recently explained how the system works.

There are only those target received the non-current liabilities and at least four claims for payment and will ensure that at least £5,000 remains over all debtor accounts, including savings accounts, after the unpaid tax is seized.

HMRC freezing the accounts for 14 days at the time for the debtor to pay, before the money is seized amount owed.

The low incomes tax reform group urged HMRC to more concrete back to challenge the right of a seizure.

But the ACCA accountancy body, according to the budget plans as "Ernst draconian", described now calls her "less fearsome than first thought" after appeared accurate.

"On paper, the protection measures provide relatively robust, and the reality is, it is unlikely that someone will be left penniless,", said Chas Roy-Chowdhury, head of taxation at the ACCA...

The plans are now through a consultation process. If approved by the Parliament, they will take effect in 2015-16.

Bed and breakfast

The Treasury Committee also calls for pensions and savings in the same way be taxed.

Important changes in the way to save such people include the budget

The most prominent measure in Mr Osborne's budget was a plan that effectively creates the precondition for some annuity - a retirement income to buy life.

From the next year, millions of people will reach the retirement age in able to spend their retirement pot in any way they want, including cashing in their pension savings in a taxed lump sum. Temporary rules are in the meantime.

The Committee said that all the witnesses by heard the "Greater flexibility and choice" welcomes the fact that the reforms proposed.

However the orientation that was promised before the retirement, agrees that it should be clear and offer at least the possibility of personal assistance.

The changes are the result in creation of a variety of new financial products for pensioners, and the Committee said, it must be sold responsibly.

"After the financial crisis and the MIS scandals, the reputation of the industry under the microscope, is selling", said Andrew Tyrie, who chairs the Committee.

He added that it would be a "Grand Prix" the tax treatment of retirement, who were treated in the same way.

The Chancellor has announced an extension to the amount that could be saved in a tax-free individual savings account (ISA) from July 1, 2014 to up to £15,000 either as cash or shares.

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