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HMRC crackdown yields record £23.9bn in additional tax | HMRC crackdown yields record £23.9bn in additional tax |
(35 minutes later) | |
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. | 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. |
HM Revenue and Customs (HMRC) said it had secured the money - the highest amount since records began - as a result of its investigations. | HM Revenue and Customs (HMRC) said it had secured the money - the highest amount since records began - as a result of its investigations. |
The figure is almost £1bn higher than the target set by Chancellor George Osborne in the Autumn Statement. | The figure is almost £1bn higher than the target set by Chancellor George Osborne in the Autumn Statement. |
The extra money raised is in addition to regular tax receipts. | |
HMRC credited "increased activity" on unpaid tax for the figure. | HMRC credited "increased activity" on unpaid tax for the figure. |
"HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due," said Treasury minister David Gauke. | "HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due," said Treasury minister David Gauke. |
"The government is determined to tackle the minority that seek to avoid paying the taxes they owe," he added. | "The government is determined to tackle the minority that seek to avoid paying the taxes they owe," he added. |
HMRC 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. | |
In total, HMRC has said it expects to secure £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax. | In total, HMRC has said it expects to secure £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax. |
The "tax gap" - the difference between the amount of tax due and that collected - was 7% for the 2011-2012 financial year, the most recent figure available. |