AdSlot1

HMRC announces record £220m haul from wealthy taxpayers

THE HIGH NET WORTH UNIT at HM Revenue & Customs has announced a record haul of £220m over 2012/13.

The unit, scrutinising the affairs of 5,800 people with assets of £20m or more, increased its yield from tax enquiries by 10%, having collected £200m in 2011/12.

Established in 2009, the unit has generated a total of £665m in additional tax over the last four years, in addition to the tax HMRC normally collects from the group.

The unit employs 380 staff across sites in Birmingham, Bradford, Cardiff, East Kilbride, Edinburgh, Portsmouth, Washington and Wrexham.

Exchequer secretary to the Treasury, David Gauke, said: “HMRC’s high net worth unit provides the specialist attention they require in ensuring the wealthy pay the tax they owe. This government has reinvested almost £1bn in HMRC and expects them to deliver almost £22bn in 2014/15.

Head of the unit Martin Randall said: “The tax affairs of the richest people in the country can be complex as they have large tax bills, and that’s why we’ve 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.”

Related reading

/IMG/929/252929/business-deal-handshake
/IMG/574/314574/digital-mall-social-marketing-performance
/IMG/685/124685/hmrc-3
/IMG/377/276377/caymans1a