£24 billion extra tax secured following tax avoidance crackdown
HMRC has raised a record £23.9bn in additional tax following a clampdown on tax avoidance in the UK.
As a result of investigations into tax avoidance, HMRC has raised a record £23.9 billion in additional tax for the year to the end of March.
This is up £3.2 billion on the previous year. The taxman has credited “increased activity” on unpaid tax for the figure.
Speaking to the BBC Radio 4 Today programme, Exchequer Secretary to the Treasury David Gauke MP said that: “HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due. The government is determined to tackle the minority that seek to avoid paying the taxes they owe.”
Of the total amount raised, HMRC took £8 billion from large businesses, over £1 billion from criminals and £2.7 billion from tackling tax avoidance schemes in the courts.
Between May 2010 and March 2015, HMRC expects to recover £100 billion as a result of investigations into unpaid tax.
The tax gap as reported for 2011-12 (the most recent figures available) by the taxman was £35 billion, or. The tax gap is the difference between what should have been, and what actually was, collected in tax revenue.
Compare current accounts with lovemoney.com
More on tax
The UK’s £100bn ‘shadow economy’
How to make sure you’re on the right tax code
Comments
Be the first to comment
Do you want to comment on this article? You need to be signed in for this feature