HMRC’s specialist teams bring in more additional tax revenue from investigating wealthy taxpayers in the North than from any other area of the UK, reports Pinsent Masons.
In 2021/22, HMRC’s ‘Wealthy North’ team collected £138m in compliance revenue, compared to £82m by each of the ‘Wealthy Central & South’ and ‘Wealthy Wider UK’ teams. The Wealthy North team covers areas of Cheshire known to be favoured by many Premier League footballers, and other high-earning financial and professional services workers.
Steven Porter, partner at Pinsent Masons said: ‘While people often assume London and the South East is the UK’s centre of wealth, parts of the North are now every bit as well-off. Income tax bills in parts of Cheshire and North Yorkshire are just as high as in many London boroughs and the home counties.
‘HMRC believes that where there is concentrated wealth, there tends to be high-value tax evasion and avoidance. Wealthier people are more likely to have assets offshore and HMRC sees that as a particularly high-risk area for unpaid tax.’
HMRC’s specialist teams bring in more additional tax revenue from investigating wealthy taxpayers in the North than from any other area of the UK, reports Pinsent Masons.
In 2021/22, HMRC’s ‘Wealthy North’ team collected £138m in compliance revenue, compared to £82m by each of the ‘Wealthy Central & South’ and ‘Wealthy Wider UK’ teams. The Wealthy North team covers areas of Cheshire known to be favoured by many Premier League footballers, and other high-earning financial and professional services workers.
Steven Porter, partner at Pinsent Masons said: ‘While people often assume London and the South East is the UK’s centre of wealth, parts of the North are now every bit as well-off. Income tax bills in parts of Cheshire and North Yorkshire are just as high as in many London boroughs and the home counties.
‘HMRC believes that where there is concentrated wealth, there tends to be high-value tax evasion and avoidance. Wealthier people are more likely to have assets offshore and HMRC sees that as a particularly high-risk area for unpaid tax.’
