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HMRC yield £23.9 billion from tax crackdown


The government collected £23.9 billion in unpaid taxes for the 2013-14 tax year, the highest amount collected since records began.

HM Revenue and Customs (HMRC) claimed that they collected the extra money as a result of “increased activity” which is aimed at helping to close the ‘tax-gap’.

The ‘tax-gap’, which is the difference between the amount of tax that the government is owed and what is actually collected, was recorded at 7% in 2011-12.

However, it’s hoped that new measures to collect unpaid tax will help to significantly close the tax-gap.

A large percentage of the extra money came from large businesses, whilst significant gains were also made on tax-avoidance schemes. For example figures released by HMRC showed:

1. £8bn of the extra money came from large businesses
2. £2.7bn of it came from tax avoidance schemes
3. £1bn of it came from criminals

HMRC also claimed that they are expecting to secure £100bn between May 2010 and March 2015 as a result of these investigations into unpaid tax.

Treasury Minister, David Gauke, spoke of his belief that HMRC will be successful in cracking down on tax-avoidance and subsequently closing the tax-gap, as he said the government are “determined to tackle the minority that seek to avoid paying the taxes they owe."

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