HMRC crackdown yields record £23.9bn in additional tax
- 27 May 2014
- From the section Business
The government has raised a record £23.9bn in additional tax for the year to the end of March as a result of a crackdown on tax avoidance.
HM Revenue and Customs (HMRC) said it had secured the money - the highest amount since records began - as a result of its investigations.
The figure is almost £1bn higher than the target set by Chancellor George Osborne in the Autumn Statement.
The extra money raised is in addition to regular tax receipts.
HMRC credited "increased activity" on unpaid tax for the figure.
"HMRC will pursue those seeking to avoid their responsibilities and will collect the taxes that are due," said Treasury minister David Gauke.
"The government is determined to tackle the minority that seek to avoid paying the taxes they owe," he added.
HMRC said that of the total amount it had raised, more than £8bn came from large businesses, £1bn from criminals and £2.7bn from tackling avoidance schemes in courts.
In total, HMRC has said it expects to secure £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax.
The "tax gap" - the difference between the amount of tax due and that collected - was 7% for the 2011-2012 financial year, the most recent figure available.