HMRC is to find efficiencies of almost a fifth of its own budget to fund the ongoing fight against tax avoidance and illegal tax evasion, Chancellor George Osborne has announced.
Speaking in the Autumn Statement today, the Chancellor said the tax office would make savings of 18 per cent of its total budget to pay for a further £800m commitment to fight against tax dodgers.
In particular, the Chancellor said the money raised will go towards the targeting of disguised remuneration schemes and stamp duty avoidance.
The savings will be made through increasing digital services offered by the HMRC, as well as the previously announced moves to close all 170 of the Revenue’s offices, in favour of a regional model.
Osborne said: “We are building the most digitally advanced tax administration in the world.”