HMRC chasing £1.9bn tax from UK's richest people

November 1, 2016 | 6years | NEWS AND INTEREST

HMRC is chasing almost £2bn that is potentially owed in taxes by the UK's richest people, according to the public spending watchdog.


The National Audit Office said HMRC's specialist unit recovered £416m in 2015 from 6,500 "high net worth individuals" with wealth of more than £20m.

But efforts are ongoing to recover an estimated £1.9bn, the NAO said.

Each one of the group of 6,500 is assigned their own HMRC official to liaise with over their tax bill.

The £416m is in addition to tax the wealthy individuals voluntarily declare, which totalled more than £4.3bn in 2014-15.

They often have complex tax affairs involving different countries.

The £1.9bn figure of tax that is "at risk" of not being received, is an estimate and not all of it will be owed once each case has been examined in detail, the NAO said.


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