David Cameron’s controversial “Behavioural Insight Team” has suggested a £100,000 prize draw to incentivise people to complete their tax return two months early.
HMRC has said that options are still being considered and no final decision has been taken on the draw idea. But a spokesman for the tax office said that millions of pounds were spent every year chasing down late filers and late payers. While the prize draw might cost close to £250,000 to run, it is bound to save money in the long run, particularly if it works as an incentive and more and more people file their returns on time! The first draw could take place as early as this year.
Do you think it’s a good idea or a waste of money?