HMRC tax avoidance crackdown yields extra £2.7bn

Carmen Reichman
clock

HMRC has secured an extra £2.7bn for the government's coffers by clamping down on tax avoidance and evasion in the last year, its annual accounts have shown.

When the extra is accounted for, the tax office clawed back a total to £26.6bn in 2014-15, up from £23.9bn the previous year. Tax evasion as, opposed to avoidance, is a criminal activity and criminal sanctions are available against those who facilitate or encourage tax evasion. The Chancellor pledged in his March Budget the government will clamp down harder on tax avoidance and plans to introduce new measures to collect an extra £3.1bn from those found to have avoided or evaded tax payments. Last year marked the first time HMRC used its new accelerated payments notices, which ask u...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Culture is the most effective risk tool wealth managers are missing out on

Culture is the most effective risk tool wealth managers are missing out on

'Understanding a firm's culture is understanding its risk profile'

Bev Shah
clock 09 January 2026 • 5 min read
FCA sets October 2027 date for implementation of cryptoasset rules

FCA sets October 2027 date for implementation of cryptoasset rules

Issues further guidance

Michael Nelson
clock 09 January 2026 • 1 min read
WH Ireland shareholders back Team takeover in key vote

WH Ireland shareholders back Team takeover in key vote

FCA clearance still required

Sahar Nazir
clock 09 January 2026 • 3 min read