£109 million reclaimed in six months following tax crackdown
20 Oct 2015
HMRC taskforces have revealed that £109 million has been recovered following tax crackdowns on so-called ‘high risk’ sectors.
£64.9 million of the money was reclaimed within the first three months of this year – which is almost double the figure as compared to the same period last year.
Taskforces were first created in the spring of 2011 to form a part of HMRC’s compliance strategy for tackling both tax evasion and fraud.
Since this time, more than 100 compliance strategy taskforces have been initiated, producing over £404 million in additional revenue.
During 2015, from April to October alone, 27 new taskforces have been launched targeting sectors such as Hidden Wealth, Income Tax Self Assessment (ITSA) repayments, retail and grocery, which have been identified as the divisions that are at the highest risk of tax fraud.
Jennie Granger, Director General for Enforcement and Compliance at HMRC stated: ‘This yield of £109 million – almost double the figure for the same period in 2014 – shows that our strategy is working.’
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