GovWire

Functional standards exist to create a coherent, effective and mutually understood way of doing business within organisations and across organisational boundaries, and to provide a stable basis for assurance, risk management, and capability improvement.

The purpose of this government functional standard is to set expectations for the management of debt owed to government departments and their arms length bodies. This will help achieve a more consistent approach, improve capability, minimise losses to the exchequer and ensure taxpayers money is spent in the most efficient and effective way, whilst minimising any unnecessary stress on the debtor.

This standard is part of a suite of standards to guide people working in and with the UK government.

The Government Debt Management Function functional centre will support organisations in scope to develop plans to address performance gaps, where appropriate.

For more guidance on debt, please contact the Government Debt Management Function: gdmfcentre@hmtreasury.gov.uk