HMRC recovers record £3.65bn in unpaid taxes from avoidance schemes, evasion and fraud

first_imgSunday 9 November 2014 11:40 pm whatsapp Joseph Millis whatsapp Tags: HM Revenue & Customs (HMRC) Share A record amount of unpaid tax has been recovered from avoidance schemes, evasion and fraud by HMRC’s top team of specialist investigators – up by almost a quarter in the past year, says Pin­sent Masons, the international law firm.According to Pinsent Masons, the compliance yield from HMRC’s specialist investigations team hit £3.65bn in 2013/14, up from £2.97bn in 2012/13, making it the division’s most successful year to date.Pinsent Masons points out that this sum alone is equivalent to10 per cent of the estimated £34bn UK tax gap.Paul Noble, tax director at Pinsent Masons, said: “These figures should be a massive jolt to anyone with undisclosed or outstanding tax liabilities that have given them significant savings. HMRC has been recruiting and training heavily in order to increase the activity of its specialist investigations team.“HMRC is not only better equipped than ever before to chase down those it suspects of unfairly avoiding their fair share of tax, it’s also far more uncompromising in how it conducts its investigations and far more hard-nosed when it comes to settling cases.“This increased investigatory capacity comes with a raft of other headline-hitting new HMRC powers, such as more criminal sanctions for offshore bank account holders and new accelerated payment measures.” Show Comments ▼ More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org HMRC recovers record £3.65bn in unpaid taxes from avoidance schemes, evasion and fraud last_img

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