HM Revenue and Customs
HMRC secures record tax revenues by cracking down on tax dodgers
The record breaking £23.9 billion tax revenue comes as HMRC publishes ‘HMRC fast facts: Record compliance revenues for the UK.’
New figures published today (Tuesday 27 May) show that HM Revenue & Customs (HMRC) secured a record £23.9 billion in additional tax revenue over the last year as a result of increased activity to make sure people pay the taxes they owe.
The additional tax – the tax that HMRC secures as a result of its investigations, on top of the tax collected from those who pay their taxes on time – is up £3.2 billion on the previous year, up £9 billion on three years ago and nearly £1billion above the target set at Autumn Statement 2013.
More than £8 billion has been secured from large business, over £1billion from criminals and £2.7billion from tackling avoidance schemes in the courts. HMRC’s compliance activity has resulted in a number of tribunal wins, and also seen corporation tax and stamp duty land tax loopholes closed, protecting the Exchequer from tax going unpaid.
Exchequer Secretary to the Treasury, David Gauke, said:
The government supports the hardworking, honest majority of taxpayers that play by the rules, and is determined to tackle the minority that seek to avoid paying the taxes they owe.
We set HMRC ambitious targets to increase its yield and the figures published today demonstrate that HMRC is successfully meeting these challenges.
It also sends a clear signal – HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due.
The record breaking tax revenue comes as HMRC publishes ‘HMRC fast facts: Record compliance revenues for the UK.’
Providing an overview of HMRC’s compliance activities, the document highlights the actions HMRC has already taken to tackle tax avoidance. This includes launching taskforces, publishing the details of deliberate and serious defaulters and challenging tax avoidance through the courts.
It also provides information on future steps as the tax authority continues its fight against those who try to cheat the system.
This includes tackling high-risk promoters, tackling employment and offshore tax avoidance and issuing accelerated payments for users of tax avoidance schemes.
Latest News from
HM Revenue and Customs
Time to get ready for Self Assessment12/10/2021 15:20:00
The deadline to complete a tax return for the 2020 to 2021 tax year is approaching.
Time is running out for tax credits and Child Benefit customers with Post Office card accounts06/10/2021 15:20:00
HMRC urges tax credits and Child Benefits customers with a Post Office card account to update HMRC with their new bank account details by 30 November 2021.
Working Tax Credit customers must report changes to working hours29/09/2021 10:15:00
HMRC is urging Working Tax Credit customers to check if they need to update their working hours if these have reduced as a result of coronavirus.
Businesses get more time to prepare for digital tax changes23/09/2021 16:05:00
Making Tax Digital for Income Tax will now be introduced in April 2024.
Tax gap remains low at 5.3%16/09/2021 14:25:00
The difference between the the total amount of tax expected to be paid and the total amount of tax paid for the 2019 to 2020 tax year is 5.3%.
New Chief Executive appointed to lead Valuation Office Agency10/09/2021 11:20:00
Jonathan Russell appointed as VOA's Chief Executive.
HMRC warns students of scams08/09/2021 13:05:00
HMRC is warning university students to be wary of potential scams, especially if they have a part-time job and are new to interacting with the department.
Thousands of teenagers missing out on Child Trust Fund cash07/09/2021 15:20:00
Teenagers are being urged by HMRC to check if they have a pot of money waiting for them in a Child Trust Fund.