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Govt crackdown raises record £23.9bn in extra tax

The Government’s crackdown on tax avoidance has seen a record £23.9bn raised in additional tax for the year to the end of March.

The BBC reports the figure is almost £1bn higher than the target set by Chancellor George Osborne in the Autumn Statement. The total is said to be the highest amount in additional tax since records began.

HM Revenue & Customs says of the total amount raised, over £8bn came from large business, £1bn from criminals and £2.7bn from tackling avoidance schemes in court.

HMRC is targeting £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax.

Treasury minister David Gauke says: “HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due.

“The Government is determined to tackle the minority that seek to avoid paying the taxes they owe.”

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. This is Great News, and Mr and Mrs P may be included ( despite Adrian P Hudson and Natalie Ceeney at the FOS assisting in Fraud ).

  2. Well I hope that’s a ‘good thing’.

    I notice from today’s paper that a partner at Herbert Smith Freehills committed suicide while his tax affairs were being investigated. This rather brings up two points:

    1. I hope HMRC are not behaving like the Gestapo and it wasn’t as a result of their bullying that this poor man took his own life.

    2. It rather brings into question (I would have thought) the choice of a Government approved Quango in engaging this firm to investigate the alleged wrongdoing of others – Viz the Key Data Affair. Those who bother to read my disconcerted rantings from time to time may have noticed that I have posed the question as to whether HSF are in fact being ethical in not advising their client to take a somewhat different course, as the costs (bearing in mind their humungous charges) are beginning to outweigh the benefits.

  3. Agree with you Harry on your first point, I think HMRC is definitely moving towards a more “guilty until proven innocent” approach. HMRC already have powers to decide that someone owes them tax even if they haven’t broken any laws, and now they are pushing for new powers to be able to raid someone’s bank accounts without consent to retrieve any tax they feel they are owed. Seems to me like an erosion of individual freedom and a right to due process.

  4. “over £8bn came from large business, £1bn from criminals and £2.7bn from tackling avoidance schemes in court.”

    What does this even mean? Large businesses? Are they avoiding or evading tax? Or are they simply more profitable last year than they were the year before? £1bn from criminals? So is it fines or unpaid tax?

    £24bn is not far off the total amount collected from business rates in 2013 considering rates are (amongst other things) what put Blockbuster, Comet and HMV out of business I’d be interested to know why all this extra tax collected has no dampening effect on the economy.

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