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Central Finance and Treasury

The NAO audits the accounts of the Treasury and its arms length bodies (including National Savings & Investments and the Debt Management Office, but excluding The Bank of England) and those of Central Funds, and we work with the Treasury on its Whole of Government Account. Our VfM work covers selected areas of HM Treasury's activities, and aims to improve compliance and efficiency, and reduce the administrative tax burden.

The Comptroller function requires the C&AG to approve all requests for the transfer of money into or out of central funds.

Showing 1 - 10 of 64 results. Order by: Most recent Alphabetical

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Review of the VFM assessment process for PFI

The Treasury Committee asked the National Audit Office to undertake an analysis of the VFM assessment process and model for PFI. The assessment process combines a quantitative and qualitative approach to VFM appraisal. Our review focused, primarily, on the use of the financial model in the VFM assessment process and was submitted to the Treasury Committee as part of their inquiry into PF2.

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Published:
10 Apr 2014

Tax Form

Tax reliefs

There are more than 1000 tax reliefs in the UK tax system. The NAO intends to carry out future work evaluating how they are developed and implemented.

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Published:
28 Mar 2014

Internet servers

Major Projects Authority Annual Report 2012-13 and government project assurance

This memorandum is intended to support a Public Accounts Committee hearing on the Major Projects Authority and its first annual report, published in May 2013.

Sector(s):

Published:
4 Feb 2014

City of London

The first sale of shares in Lloyds Banking Group

The Government’s first sale of shares in Lloyds Banking Group was managed very effectively by United Kingdom Financial Investments Limited.

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Published:
18 Dec 2013

Whitehall and Westminster signposts

Departmental Overview: The performance of HM Revenue & Customs 2012-13

This Departmental Overview is one of 17 we have produced covering our work on each major government department. It summarises our work on the HM Revenue & Customs 2012-13

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Performance Improvement area(s):

Published:
28 Nov 2013

Collection box

Gift Aid and reliefs on donations

HMRC and the Treasury do not know if incentives designed to increase charitable giving, at a cost to the taxpayer of £940 million in 2012-13, have resulted in more income for charities.

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Published:
21 Nov 2013

Fifty pound note

Improving access to finance for small and medium-sized enterprises

The range of government initiatives to help small and medium businesses gain access to finance are not operating as a unified programme.

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Published:
1 Nov 2013

Houses of Parliament

Confidentiality clauses and special severance payments – follow up

The NAO reports on the use of confidentiality clauses and severance payments in three more areas of government.

Sector(s):

Published:
8 Oct 2013

Whitehall and Westminster signposts

Departmental Overview: The performance of HM Treasury 2012-13

This Departmental Overview is one of 17 we are producing covering our work on each major government department. It summarises our work on the HM Treasury during 2012-13.

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Performance Improvement area(s):

Published:
9 Sep 2013

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2012-13 review of the data systems for HM Treasury

Review of a sample of the data systems underpinning the input and impact indicators in HM Treasury’s Business Plan, Common Areas of Spend and wider management information.
This review was carried out on the 2012-15 Business Plan. Revised Business Plans were issued in June 2013.

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Performance Improvement area(s):

Published:
14 Aug 2013

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