8 hours ago
High earners face surge in tax investigations
High earners face a surge in tax investigations after HM Revenue & Customs doubled revenues from inquiries into the wealthiest Britons last year.
A freedom of information request has revealed that HMRC's wealthy and mid-sized business compliance directorate, which examines the tax affairs of those earning more than £200,000 a year or with assets above £2 million, yielded more than £1.5 billion in 2024, double the amount raised the previous year.
The success of the unit has led to a decision to hire an extra 400 specialist compliance officers, who will be added over the next four years. The government hopes the move will bring in at least another £500 million in tax revenues by 2030.
Accountants have said the number of investigations into wealthy individuals will inevitably increase.
