The government has raised a record £23.9bn in additional tax for the year to the end of March as a result of a crackdown on tax avoidance, almost £1bn higher than the target set by the Chancellor in the Autumn Statement. This constitutes extra money raised, in addition to regular tax receipts. The amount collected has increased by £3.2 billion in a year and £9 billion compared to three years ago, demonstrating HMRC’s focus on tackling tax evasion.
HMRC secured the money - the highest amount since records began - as a result of its investigations and increased activity on pursuing unpaid tax and said that of the total amount it had raised, more than £8bn came from large businesses, £1bn from criminals and £2.7bn from tackling avoidance schemes in courts.
A new report shows that in the last four years 2,650 people were prosecuted for not paying tax and that HMRC won 80 per cent of cases taken to court. In addition, in the last 12 months it has been ‘naming and shaming’ people who have deliberately avoided paying their tax bills (for those that total £25,000 and more).
In total, HMRC said it expects to secure £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax.