UK Generated £34B Tackling Tax Cheats, HMRC Report Says

Law360 (July 24, 2019, 5:53 PM EDT) -- The U.K. tax authority generated an extra £34 billion ($42 billion) in the past fiscal year by tackling avoidance, evasion and noncompliance, HM Revenue & Customs said in its recently published annual report.

HMRC is creating an environment where increasing numbers of taxpayers voluntarily pay the correct amount of tax, but the agency is using data analytics and insights to target interventions at those that deliberately attempt to cheat the system, according to the report, dated July 18, for the tax year that ended March 31.

HMRC, which collected £627.9 billion last year — a £22.1 billion increase from the year...

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