TaxCorporate TaxSpending Review: HMRC faces 15% budget cut

Spending Review: HMRC faces 15% budget cut

HMRC budgets to fall over the next four years

Medium

The taxman will face a 15% cut to its budgets by 2014/2015.

HM Revenue & Customs’ baseline budget of £3.5bn in 2010/2011 will fall to £3.2bn over the next four years.

The fall-off is a cumulative cut of 15%.

The Treasury’s budget will fall 33% over the period, to around £100m.

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