HMRC's annual report for 2022/23 shows that tax evasion and avoidance investigations have resulted in an extra tax yield of £34bn over the last year, up from the previous two tax years but broadly in line with pre-pandemic levels. £2.7bn of the total came from investigations into wealthy individuals, with HMRC's Fraud Investigation Service picking up a total of £4bn from their investigations into serious tax fraud.
Noting that HMRC has added 4,000 compliance officers since the start of 2020/21, Steven Porter, head of tax disputes and investigations at Pinsent Masons, said: 'HMRC’s role in bringing in extra tax through investigations is incredibly valuable, especially now that the cost of government borrowing has increased so considerably. HMRC is going to be casting its net very widely over the next year.'
HMRC's annual report for 2022/23 shows that tax evasion and avoidance investigations have resulted in an extra tax yield of £34bn over the last year, up from the previous two tax years but broadly in line with pre-pandemic levels. £2.7bn of the total came from investigations into wealthy individuals, with HMRC's Fraud Investigation Service picking up a total of £4bn from their investigations into serious tax fraud.
Noting that HMRC has added 4,000 compliance officers since the start of 2020/21, Steven Porter, head of tax disputes and investigations at Pinsent Masons, said: 'HMRC’s role in bringing in extra tax through investigations is incredibly valuable, especially now that the cost of government borrowing has increased so considerably. HMRC is going to be casting its net very widely over the next year.'
