HMRC expands compliance oversight of wealthy taxpayers
Economy · First reported 29 Oct, 12:54 · Updated 17:55
HMRC says it will assign dedicated managers to more than 200 billionaires with a UK tax footprint and use new technology to identify tax risks earlier. The measures are intended to contribute at least £500m towards a wider £10bn revenue target by 2030.
- HMRC will give each of more than 200 billionaires with a UK tax footprint a dedicated compliance manager, who will offer discussions before tax returns are filed.
- HMRC plans to use analytics, automated triggers and artificial intelligence to identify potential risks among wealthy taxpayers earlier.
- The measures are intended to raise at least £500m towards the government’s commitment to collect £10bn in additional tax revenue by 2030.
Summary written by Lux AI from 2 articles
Key facts
- Billionaires covered
- More than 200 with a UK tax footprint
- Estimated wealthy-tax gap
- £3.6bn in 2024–25; 6% of the total UK tax gap
- Intended revenue from measures
- At least £500m
- Wider revenue commitment
- £10bn in additional tax revenue by 2030
- Planned specialist recruitment
- 400 new tax specialists
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