Adviser Q&A: HMRC’s Fast facts on ‘record revenues’ for the UK

On 27 May HMRC published an online document entitled Fast facts which has as its strapline: ‘Record revenues for the UK’. It has a foreword by David Gauke exchequer secretary to the Treasury in which he congratulates HMRC for its record compliance yield of £23.9bn for 2013/14.

Sounds good. How is the £23.9bn made up?

Good question. Unfortunately the document itself gives no information whatsoever about the make up of the £23.9bn. It simply states the number and says that this was £1bn above the target set by the minister.

So what is in the document then?

The document contains brief snapshots of a number of different initiatives across a range of taxes covering periods from 2008 to 2018.

OK let’s come back to that later....