Safeguarding clients in a world of increasing HMRC activity

'It is important that financial advisers stay informed and proactive'

clock • 4 min read

Louisa Beciri and Tom Lewis look at safeguarding clients as HMRC activity increases...

As His Majesty's Revenue & Customs (HMRC) intensifies its efforts to reduce the tax gap, it is important that financial advisers stay informed and proactive. Understanding HMRC's strategies and compliance activities helps to effectively manage clients' tax affairs and mitigate risk. The tax gap Each year, HMRC publishes its estimate of the tax gap. The tax gap is the difference between the amount of tax received by HMRC and the amount that it expects to have received. In the 2022/23 tax year, HMRC estimated the tax gap to be 4.8%, which equates to circa £39.8bn. HMRC uses a ra...

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 Tax planning

Advisers urged to protect themselves if clients reject IHT planning

Advisers urged to protect themselves if clients reject IHT planning

Could face questions from beneficiaries

Isabel Baxter
clock 02 October 2026 • 3 min read
IHT on pensions: 'A bigger deal than the government currently realises'

IHT on pensions: 'A bigger deal than the government currently realises'

AJ Bell's Rachel Vahey speaks at PA360 North

Sophia Panayi
clock 01 October 2026 • 3 min read
Budget Media Watch: Labour could scrap 'family farm tax'

Budget Media Watch: Labour could scrap 'family farm tax'

What the papers are saying about the Budget

Sophia Panayi
clock 22 September 2026 • 2 min read