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.
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Susie Hughes © Shout99 2012