Taxman targets wealthiest in the country

by Susie Hughes at 10:14 13/09/12 (News on Business)

HM Revenue and Customs (HMRC) has brought in £500 million in extra tax, since a special unit was set up to deal with the tax affairs of the country’s wealthiest people.

The High Net Worth Unit (HNWU), designed to deal with 5,000 of the UK’s wealthiest taxpayers, has exceeded its collection targets since its launch three years ago. HNWU head, Martin Randall, said:  “When we set up the unit we expected to bring in about £100 million a year but, in 2011-12, the tax yield from our intervention work hit £200 million, up from £162 million in 2010-11 and £83 million in 2009-10. And we have brought in £80 million so far this  year.” The HNWU was set up in 2009 to deal with the personal tax affairs of about 5,000 of the UK’s richest people – those with assets in excess of £20 million. It consists of 380 staff working out of eight locations across the UK.  Tweet -- If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'. - Susie Hughes © Shout99 2012

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