- HMRC has collected £11.4bn in unpaid tax through increased tax compliance measures.
- The number of VAT investigations by HMRC has increased by 23%.
- Investigations into wealthy individuals and mid-size businesses have increased by 60%.
- The largest sum of unpaid tax came from large business VAT probes.
- Cases opened into individuals and small businesses increased by 22%.
- Cases opened into large businesses increased by 17%.
- The large businesses section of VAT compliance investigations collected an additional £5bn last year.
- VAT makes up roughly 20% of the total tax take.
- Additional resources have been given to HMRC to improve tax collection.
Source: news.sky.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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