The amount of additional tax HMRC has collected as a result of investigations into personal tax returns has jumped 38% in the last year, says UHY Hacker Young, the accountancy group. HMRC’s yield from compliance work related to personal tax returns was £609m in 2012/13, up from £441m in 2011/12. UHY Hacker Young says that an increasingly detailed scrutiny of self-assessment returns is part of HMRC’s strenuous efforts to crack down on missing taxes. Head of private client services, Mark Giddens said: ‘The money HMRC is bringing in through its personal tax investigations has risen significantly. A major push to recover missing taxes was launched in 2010, and is backed by the sophisticated exploitation of big data and extremely aggressively targeted pursuit of subgroups of personal taxpayers.’
An HMRC spokesperson told Tax Journal: ‘Since 2010, the government has invested nearly a billion pounds in HMRC to catch the cheats; that investment is delivering outstanding results. The vast majority of taxpayers play by the rules and on their behalf we are increasingly employing sophisticated computer systems and risk analysis to catch the minority who don’t.’
The amount of additional tax HMRC has collected as a result of investigations into personal tax returns has jumped 38% in the last year, says UHY Hacker Young, the accountancy group. HMRC’s yield from compliance work related to personal tax returns was £609m in 2012/13, up from £441m in 2011/12. UHY Hacker Young says that an increasingly detailed scrutiny of self-assessment returns is part of HMRC’s strenuous efforts to crack down on missing taxes. Head of private client services, Mark Giddens said: ‘The money HMRC is bringing in through its personal tax investigations has risen significantly. A major push to recover missing taxes was launched in 2010, and is backed by the sophisticated exploitation of big data and extremely aggressively targeted pursuit of subgroups of personal taxpayers.’
An HMRC spokesperson told Tax Journal: ‘Since 2010, the government has invested nearly a billion pounds in HMRC to catch the cheats; that investment is delivering outstanding results. The vast majority of taxpayers play by the rules and on their behalf we are increasingly employing sophisticated computer systems and risk analysis to catch the minority who don’t.’
