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HMRC's annual accounts published

27 July 2015
Issue: 4511 / Categories: News , Admin

Record tax yield for 2014/15

HMRC collected a record £517.7bn in tax in 2014/15 £12bn more than in the previous year. According to the Revenue this increase is a result of economic growth and the crackdown on tax evasion and avoidance.

The figures were in HMRC’s Annual report and accounts 2014-15. Other achievements in the report include:

  • HMRC made £210m in cost efficiencies last year by selling property and cutting workforce IT and procurement costs. This brings total sustainable cost savings over the past four years to £991m exceeding the target by £25m.
  • A record £26.6bn was obtained in additional compliance yield. This is £8bn more than in 2011/12.
  • The department prosecuted 1 289 cases securing a collective total of 407 years in prison sentences.
  • £9.79bn in tax was protected by litigation.
  • ...

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