Welcome news for the Chancellor may have been in short supply in recent weeks but figures from the 12 months to 30 September 2024 reveal that HMRC’s UK tax investigations brought in £10bn more than in the previous year – up by 28% to £45.7bn in total – reports Pinsent Masons.
Commenting on the statistics Steven Porter Head of the Contentious Tax team at the firm suggests that the bumper haul shows that increased funding for HMRC is starting to pay off: ‘Recent increases in funding have been geared towards HMRC’s tax compliance teams and we can expect that trends to continue. The new government have made their aim clear – to close the tax gap by putting a real squeeze on tax evasion and tax avoidance.’
Over the life of the current Parliament Rachel Reeves has already committed to recruit 5 000 extra investigations staff...
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Welcome news for the Chancellor may have been in short supply in recent weeks but figures from the 12 months to 30 September 2024 reveal that HMRC’s UK tax investigations brought in £10bn more than in the previous year – up by 28% to £45.7bn in total – reports Pinsent Masons.
Commenting on the statistics Steven Porter Head of the Contentious Tax team at the firm suggests that the bumper haul shows that increased funding for HMRC is starting to pay off: ‘Recent increases in funding have been geared towards HMRC’s tax compliance teams and we can expect that trends to continue. The new government have made their aim clear – to close the tax gap by putting a real squeeze on tax evasion and tax avoidance.’
Over the life of the current Parliament Rachel Reeves has already committed to recruit 5 000 extra investigations staff...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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