New figures published Tuesday show that HM
Revenue & Customs (
HMRC) secured a
record £23.9bn in additional UK tax revenue over the2013/2014 fiscal year as a
result of increased activity, in particular against tax dodgers.
The additional tax - - the tax that
HMRC secures as a result of its
investigations, on top of the tax collected from those who pay their taxes on
time - - is up £3.2bn on the previous year, up £9bn on three years ago and
nearly £1bn above the target set at Autumn Statement 2013.
More than £8bn has been secured from large
business, over £1bn from criminals and £2.7bn from tackling avoidance schemes in
activity has resulted in a number of tribunal wins, and also seen corporation
tax and stamp duty land tax loopholes closed, protecting the Exchequer from tax
The record breaking tax revenue comes as
HMRC published ‘
fast facts: Record compliance revenues for the UK.’
Providing an overview of
HMRC’s compliance activities, the
agency says the document highlights the actions
HMRC has already taken to tackle
tax avoidance. This includes launching taskforces, publishing the details of
deliberate and serious defaulters and challenging tax avoidance through the
It also provides information on future steps as
the tax authority continues its fight against those who try to cheat the system.
This includes tackling high-risk promoters,
tackling employment and offshore tax avoidance and issuing accelerated payments
for users of tax avoidance schemes.
HMRC said it expects to raise £100bn between May
2010 and March 2015 stemming from new investigations into tax evasion.