Most of the wealthiest taxpayers ‘play by the rules’
HMRC’s High Net Worth Unit has exceeded its collection targets and brought in £500m since its launch three years ago. The unit comprises 380 staff working in eight locations, and deals with taxpayers who have assets of more than £20m.
Martin Randall, head of the unit which deals with 5,000 of the UK’s wealthiest taxpayers, said: ‘The tax affairs of the richest people in the country are, by their nature, complex, and that’s why we have focused resources on getting their tax right. The majority of the wealthiest taxpayers play by the rules, paying the right tax at the right time, but we take action against the minority who don’t …
‘When we set up the unit we expected to bring in about £100m a year but, in 2011/12, the tax yield from our intervention work hit £200m, up from £162m in 2010/11 and £83m in 2009/10. And we have brought in £80m so far this year.’
Most of the wealthiest taxpayers ‘play by the rules’
HMRC’s High Net Worth Unit has exceeded its collection targets and brought in £500m since its launch three years ago. The unit comprises 380 staff working in eight locations, and deals with taxpayers who have assets of more than £20m.
Martin Randall, head of the unit which deals with 5,000 of the UK’s wealthiest taxpayers, said: ‘The tax affairs of the richest people in the country are, by their nature, complex, and that’s why we have focused resources on getting their tax right. The majority of the wealthiest taxpayers play by the rules, paying the right tax at the right time, but we take action against the minority who don’t …
‘When we set up the unit we expected to bring in about £100m a year but, in 2011/12, the tax yield from our intervention work hit £200m, up from £162m in 2010/11 and £83m in 2009/10. And we have brought in £80m so far this year.’
