HMRC have announced a record collection of extra tax for the year up to the end of March. £23.9bn in additional tax has been collected thanks to a crackdown on avoidance, according to the tax man.
HMRC have claimed this is due to an increase in investigations of the country’s tax papers. This comes with the news that the use of private bailiffs has doubled over the past two years.
The money raised also surpassess George Osborne’s target that he set in the Autumn Statement by £1bn. The Chancellor has come under fire recently for using misleading statistics when talking about recovered taxes.
David Gauke, Treasury Minister, said: “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.”
Breaking down the collected tax figure, HMRC said that £8bn came from big business, £1bn from criminals and £2.7bn from tackling avoidance schemes in the courts.
Overall, HMRC are hoping to secure £100bn in tax between May 2010 and March 2015. This follows other new tactics that the tax man is employing.
HMRC was recently granted new powers that allow them to take money from people’s bank accounts without external checks and to seize money before a case is heard in court. Any money taken in error is then returned after the court hearing with interest.
Photo by Casey Fleser.