HMRC secured £23.9 billion in 2013 and 2014 as part of their wide-spanning crackdown on tax avoiders. This figure equates to a 15% increase from the previous year and is almost £1 billion higher than the target set by Chancellor George Osborne in his 2013 Autumn Statement.
The total accrued during HMRC’s tax avoidance clampdown is a whopping £3.2 billion more than the previous year and £9 billion higher than three years ago. More impressive is the fact that this figure excludes the billions in tax collected from taxpayers who paid their tax on time.
Out of this total, £8 billion came from large businesses, while £1 billion came from criminals, £2.7 billion through court challenges, and £1.3 billion in tax liabilities. The biggest payment received was £11 million, through the Liechtenstein Disclosure Facility, while the number of people investigated by HMRC in the 2013/14 tax year was a record 237,215, with successful 690 prosecutions.
Since 2010, HMRC has:
- Spent £77m tackling offshore evasion
- Won 80% of avoidance cases heard
- Made 42 changes to tax laws
According to David Gauke, Exchequer Secretary to the Treasury, HMRC has demonstrated that it is successfully meeting the ambitious targets set by government. “It also sends a clear signal,” he said “that HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due.”
In light of HMRC’s clampdown, the safest thing to do is to first find out if you are due a tax refund. You can do this by contacting one of our consultants at 1st Contact Tax Refunds. We’ll check if you’re eligible, help you maximise your tax refund, and then receive your money in the shortest time possible.