Tax Avoidance Crackdown Yields £24 billion
2 Jun 2014
A Coalition Government crackdown on tax avoidance has raised a record £23.9bn in additional tax for the year to the end of March, a new report has revealed.
HM Revenue and Customs (HMRC) said it had secured the money as a result of its investigations into tax avoidance.
The amount is almost £1bn higher than the target the Coalition set last year. The extra money raised is in addition to regular tax receipts.
According to HMRC more than £8bn of the amount raised came from large businesses, £1bn from criminals and £2.7bn from tackling avoidance schemes in courts.
In total, HMRC has said it expects to secure £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax.