The U.K. has issued draft legislation for the direct recovery of tax and tax credit debts is to be included in Finance Bill 2015. Under the measure, HM Revenue & Customs (HMRC) will be allowed to secure payment of tax and tax credit debts directly from debtors’ bank and building society accounts in credit. Such an action currently requires that the HMRC first apply to the courts. The measure will apply for securing payment from both individuals and businesses with outstanding tax liabilities. Additional legislation will published in spring 2015 introducing the direct recovery process and safeguards. Additional information can...