Giving the taxman power to raid bank accounts and ISAs ‘undermines Magna Carta’

‘New powers for HMRC to raid bank accounts and cash ISAs undermine the rights enshrined in the Magna Carta, legal experts have claimed.

The ‘direct recovery’ power which could see the tax authorities seize payments from employees and business bank accounts would cut out the legal process, a Taxpayers’ Alliance report by barrister Francis Hoare has warned.

The measure, unveiled in the Budget, will give HMRC the power to freeze all but £5000 of an individual’s or firm’s assets even if the authorities simply believe someone ‘appears’ to owe tax.’

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