HMRC goes international

The value of tax debts collected overseas on behalf of HMRC increased by 11% in the 12 months to 31 December 2023 – rising to some £3.17m according to recent figures. This is tax collected from individuals who owed tax to HMRC in the UK before moving elsewhere. Reporting on the statistic UHY Hacker Young says that HMRC are ramping up efforts to collect tax debt overseas using foreign tax collectors – something that had not happened until recent years.

Commenting on the potential significance of the figures Neela Chauhan Partner at the firm said: ‘HMRC is saying that if you leave the UK owing tax then they will pursue you overseas and hit with late payment penalties and punitive interest charges. HMRC is increasingly coordinating its compliance efforts with overseas tax authorities – that cooperation is now proving very worthwhile. It’s a small amount...