HMRC is chasing £1.9 billion of tax which it believes is owed by the UK’s richest people. HMRC’s specialist High Net Worth unit has targeted 6,500 individuals all with individual wealth in excess of £20 million.
HMRC estimates that around £1.1 billion of this sum relates to the use of tax avoidance schemes. In each case, HMRC assigns a “Customer Relationship Manager” who is charged with “building an understanding of each taxpayer’s affairs and behaviours” in order for HMRC to maximise the recovery of tax.
A copy of the National Audit Office Report can be found here.