The UK’s private investigation team doubles the campaign tax on the wealthy

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The UK’s private investigation team doubled the wealthy taxes in 2023-24, compared to the previous year, in a campaign against the rich.

A department was created in HM Revenue & Customs, which was prepared to target wealthy taxpayers more than 1.5 billion pounds in 2023-24, according to the latest data obtained from the information freedom request (FOI).

“It is difficult to see how they can achieve these goals without a sharp rise in tax investigations in the wealthy,” said Ian Robham, the Pinsent Masons, a legal company.

“I know from the experience over the past five years, that there has been a focus from HMRC on wealthy individuals, where there is a perception and understanding that there are tax risks within the wealthy population,” added Nimash Shah, CEO of the Consulting Company, Blake Rothnberg.

The wealthy, which HMRC has set as those who earn more than 200,000 pounds annually or with more than two million pounds, is 119 billion pounds in personal taxes in 2023-24, at a rate of 140,000 pounds per person. The amount represents 25 percent of the UK personal tax receipts.

The HMRC, which collected 1.5 billion pounds in 2023-24, is called the WMBC.

Almost half of the money, 652 million pounds, was collected by WMBC in 2023-24 it was brought from the settlement With Bernie ExstonShah said that the British business pole and former CEO of the auto race.

However, even without Ecclestone leveling, the amount that was collected was 848 million pounds in the tax year 2023-24, and it is still above 713 million pounds collected in the previous year.

The data comes against the backdrop of a report issued by the National Audit Office last month, which said that the total collected via HMRC from the wealthy taxpayers rose to 5.2 billion pounds in 2023-24-height from 4 billion pounds in the tax year 2022-23.

And I concluded to the amount Lost tax The evasion and avoidance by the wealthy can be higher than it was previously estimated.

Robotam said that part of the rise in recent years was because HMRC was investing in artificial intelligence tools and “big data” technologies, such as the pioneering Connect software system.

The strong and mutual program between commercial records and personal tax records with other databases to create a fraudulent or unknown activity.

Although HMRC does not reveal all the sources of the information that it feeds by communication, it is believed to include details of banking interest, credit card data, land registry reports and travel records.

Dawn Record, a tax conflict resolution partner at Accountance BDO, said she was not surprised by the jumping of the money collected after seeing a lot of “detailed mutual reference” for customer tax affairs by HMRC.

“People still reduce the sophisticated data of HMRC,” she added. “Most inquiries lead the data, they are not random. HMRC often realizes from the technical and wealthy errors of the individual they find wrong, and the more tax revenues they will get.”

She added that she was regularly seeing HMRC inquiries in customer affairs, including checks in external assets and tax residence.

Tax specialists said they expect HMRC focus on wealthy taxpayers, especially since the government announced additional financing for compliance employees to address the wealthy and external risks in the spring statement and autumn budget.

HMRC said: “It is our duty to ensure that each person pays the correct tax under the law, regardless of wealth or situation. The government connects the most ambitious package ever to bridge the tax gap and bring an additional 7.5 billion pounds of public services annually by 2029-30.”