HM Revenue & Customs contacted foreign governments on 490 separate occasions in one year as it sought information on suspected tax evasion, a drop of 150 information requests compared to the previous year.
The UK’s financial watchdog carried out 20% more investigations last year, however, the number of inquiries being closed without reaching a public outcome has doubled in three years.
Britain’s tax office has seen a surge in foreign governments making information requests about tax evasion over recent years.
HMRC’s clampdown on tax avoidance and evasion saw the amount collected from mass affluent taxpayers soar by £137M according to a report from Pinsent Masons.
HM Revenue & Customs has recovered a record amount of tax from big ticket avoidance, evasion, and fraud, up nearly a quarter on last year.
HM Revenue & Customs can now collect up to £17,000 a year in tax debts directly from the wage packets of high earners, following a largely overlooked constitutional change labelled staggering and regrettable by experts.
The UK Governments continued aggressive stance towards tax avoidance and the blurring of its distinction between avoidance and evasion has raised concerns that more mainstream legitimate tax mitigation tools could come under increased scrutiny.
An international law firm has accused HM Revenue & Customs of a “sudden and unprecedented escalation” after it revealed full details about the powers which will allow it to impose £1m fines on tax advisers.
Tax paid by so-called non-doms to the UK Treasury hit a record high of £6.8bn last year, according to data obtained by international law firm Pinsent Mason.
A consultation closes this evening on a plan that would enable HM Revenue & Customs to be able, in certain cases, to demand upfront payment of tax it claims it is owed, but which is in dispute.
Banks could be “named and shamed” for assisting in tax avoidance, even if it is legal avoidance, under proposals issued by HM Revenue & Customs.
The number of individuals prosecuted by HM Revenue & Customs has increased by more than 50% during the past year, according to data obtained by law firm Pinsent Masons.
