HMRC has ‘a lot of catching up to do’ as tax investigations ramp up – what you can expect | Personal Finance | Finance
UHY Hacker Young Group, the accountancy network, explained HMRC’s investigations into taxpayers suspected of tax evasion and avoidance appear to be in full swing again, following the temporary reallocation of its resources during the pandemic.
Recent data published by HMRC showed it opened 102,000 compliance investigations in Q1 2021, up 36 percent from 75,000 in the previous quarter.
This was almost quadruple the low of just 27,000 in the second quarter of 2020.
Additionally, the amount of extra revenue HMRC brought in from its compliance activity jumped 29 percent to £14.2billion in Q1 2021, an increase from £11billion in the same period in 2020.
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