Financial secretary to the Treasury David Gauke has announced that HMRC ‘collected £1bn in tax payments from users of tax avoidance schemes’ as a result of the accelerated payment regime introduced last year.
More than 25,000 notices to pay disputed tax have been issued by HMRC since August 2014. By the end of 2016, HMRC expect to have completed issuing around 64,000 notices, bringing forward £5.5bn in payments for the exchequer by March 2020.
David Gauke said: ‘Accelerated payments has been a real game changer. It is no longer possible for these individuals to avoid tax and sit on the money while their affairs are investigated. This first £1bn received in accelerated payments shows that we are turning the tables on those looking to avoid paying their fair share.’
Financial secretary to the Treasury David Gauke has announced that HMRC ‘collected £1bn in tax payments from users of tax avoidance schemes’ as a result of the accelerated payment regime introduced last year.
More than 25,000 notices to pay disputed tax have been issued by HMRC since August 2014. By the end of 2016, HMRC expect to have completed issuing around 64,000 notices, bringing forward £5.5bn in payments for the exchequer by March 2020.
David Gauke said: ‘Accelerated payments has been a real game changer. It is no longer possible for these individuals to avoid tax and sit on the money while their affairs are investigated. This first £1bn received in accelerated payments shows that we are turning the tables on those looking to avoid paying their fair share.’
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