HMRC’s annual report for 2022-23 shows that investigations into tax evasion and tax avoidance have yielded a total of £34bn in extra tax revenue, up from £30.8bn last year. Of that, £2.7bn came from income tax investigations into wealthy individuals.
HMRC’s Fraud Investigation Service was responsible for £4bn from its investigations, with its work leading to 218 convictions for fraud over the last year.
Describing the result as ‘remarkable’, Steven Porter, head of tax disputes and investigations at Pinsent Masons, said: ‘HMRC’s role in bringing in extra tax through investigations is incredibly valuable, especially now that the cost of government borrowing has increased so considerably.’
He added that HMRC is likely to be ‘casting its net very widely over the next year’.
