Plan to cut £1bn tax-credit fraud not achievable - Re-introduce Crown preference £200M+ being fraudently taken by the banks & Asset based lenders in charges

A US company brought in to crack down on tax-credit fraud will fail to meet its £1bn target, the National Audit Office has said.

Synnex-Concentrix only generated savings of £500,000 in 2013-14 compared with the original estimate of £285m.

It is expected to deliver savings of £423m over three years, less than half the original target.



Admin: HMRC have already started the process of recovering past debts from fraudulent asset based lenders - There is a £1bn of easily recoverable money that should have gone to the Treasury by re-introducing Crown preference

Continue reading: http://www.bbc.co.uk/news/uk-politics-33571596