HM Customs and Excise standard report 2003-04 : fifteenth report of session 2005-06, report, together with formal minutes, oral and written evidence

HM Customs & Excise (now part of HM Revenue and Customs) collected GBP 162 billion of gross receipts in 2003-04 in value added tax (VAT) and excise and customs duties from over 1.8 million business traders.

The Committee's report examines the NAO standard report on the work of the Department during 2003-04 (contained within the 95th report of the Commissioners of Her Majesty's Customs and Excise for 2003-04, published as HCP 119, session 2004-05, ISBN 0102931593 in December 2004).

It makes a number of recommendations focusing on work related to the two key revenue streams of VAT (which generates GBP 63.6 billion net) and hydrocarbon oils, mainly on petrol and diesel fuel (which provides GBP 12.7 billion and GBP 9.8 billion respectively).