Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

HMRC takes in record £23.9bn following tax cheat clampdown

1 Comment
HMRC takes in record £23.9bn following tax cheat clampdown

Tax authorities have increased their take by 15% to a record total of £23.9 billion in the year to April following a crackdown on tax avoidance schemes.

HM Revenue & Customs said that £8 billion had been received in a crackdown on big businesses, with another £1 billion coming from criminals and £2.7 billion through court challenges.

‘We set HMRC ambitious targets to increase its yield and the figures published today demonstrate that HMRC is successfully meeting these challenges,’ said exchequer secretary to the Treasury David Gauke.

‘It also sends a clear signal - HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due.’

The number of people investigated by the HMRC in the 2013/14 tax year almost doubled to 237,215 from 119,000 in the year before, while the number of successful prosecutions rose from 477 to 690.

HMRC said that the results was £1 billion above the target set by the chancellor in the 2013 Autumn Statement.  

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play French fund CEOs: 'Brexit is a lose-lose situation for all of us'

French fund CEOs: 'Brexit is a lose-lose situation for all of us'

'We'll all lose out - but London is an international city, Paris is not.' Leading French asset management CEOs tell us what they think Brexit will mean for the investment business.

Play Henderson Eurotrust's Stevenson: dealing with European cynicism

Henderson Eurotrust's Stevenson: dealing with European cynicism

Tim Stevenson talks about where he finds his opportunities in the current environment in Europe

Play Mark Barnett - part 2: why I'm not buying Lloyds

Mark Barnett - part 2: why I'm not buying Lloyds

In the second part of our exclusive video interview, Barnett explains why he has no intention of buying Lloyds, and where he sees the greatest income opportunities.

Read More
Wealth Manager on Twitter