UK: Tax avoidance measures brings additional half a billion in 2015
HMRC the UK has released figures showing that as a result of the crackdown on income tax avoidance, an additional £500 million has been collected from 2014 to 2015, according to figures obtained by UK Law Firm Pinsent Masons.
Since 2012, following news stories on the use of tax avoidance schemes by celebrities; The HMRC has stepped up its investigations into income tax avoidance schemes. Objectives have included some of the UK’s most well-known public figures, including actors, musicians, sports stars and comedians.
A recent HMRC survey of over 1,000 people found that 66% believed that use of tax avoidance schemes is still extensive. A comparable figure (62%) said that it was never acceptable to make use of such schemes.
Paul Noble said that public support for a tax avoidance crackdown has increased pressure on HMRC to prioritise the tackling of schemes. “The survey highlights the public’s negative view of these schemes and the support for more action, and HMRC is likely to view this as further support for tackling schemes" he stated.
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