This website uses cookies to ensure you get the best experience. Please read our policies for more information.

10 Chartered Accountants

News

HMRC collects an extra £11.9bn
05 August 2015

HM Revenue & Customs (HMRC) collected a record £517.7 billion in tax in 2014-15, £11.9 billion more than the previous year.

The figures were included in HMRC’s Annual Report and Accounts for 2014-15, published on 16 July, which featured achievements including:

securing and protecting a record £26.6 billion through tax compliance crackdowns
prosecuting 1,289 cases, predominately for tax-related crimes, and securing a total of 407 years in prison sentences
protecting £9.79 billion in tax through successful litigation
implementing initiatives including a new Needs Extra Support telephone and mobile adviser service to support vulnerable customers and the £2,000 Employment Allowance for more than a million small employers.
However, HMRC performed less well on customer service. It handled only 72.5 per cent of 65 million calls attempts, down from 79 per cent in 2013-14, and processed only 70 per cent of 15 million items of customer post received within 15 working days, falling from 83 per cent in 2013-14.

HMRC chief executive Lin Homer said: “Our customer service levels slipped this year, but the work we are already doing on digitising our services, using real-time information, and creating online tax accounts for individuals and businesses will help us improve customer service as well as improve voluntary compliance.”

Link: HMRC Annual Report and Accounts 2014-15

Other recent news

The rise of the higher rate taxpayer
14 May 2024

The Government continues to freeze both the personal allowance and…
Read more

High-income earners need to re-register for child benefit
14 May 2024

Child benefit supports parents or guardians of children under 16,…
Read more

P11D – Remember to report before the July deadline!
14 May 2024

With the 6 July deadline nearing, it is essential to…
Read more

SME recovery continues as sustainability and growth take centre stage
14 May 2024

In its latest research into the UK’s SME economy, NatWest…
Read more

Preparing for the second payment on account – and what happens when you can’t pay?
14 May 2024

If you are a Self-Assessment taxpayer, it is almost time…
Read more

»

Case Studies