HMRC's Annual Report and Accounts for 2014-15
20 July 2015
HMRC has published its Annual Report and Accounts for 2014-15, together with the Tax Assurance Commissioner’s Annual Report.
The Annual Report and Accounts highlights that HMRC:
· achieved £210 million in cost efficiencies last year, through continuing to reduce estates, workforce, IT and procurement costs. This brings total sustainable cost savings over the past four years to £991 million – exceeding the target by £25 million
· secured and protected a record £26.6 billion in additional compliance yield, by continuing to crack down on those who cheat the tax system. This is £8 billion more than in 2011-12
· handled 72.5 per cent of 65 million customer calls (down from 79 per cent in 2013-14) and 70 per cent of the 15 million items of customer post received processed within 15 working days (down from 83 per cent in 2013-14)
· implemented big initiatives and flagship policies for customers, including:
- a new Needs Extra Support telephone and mobile adviser service to support vulnerable customers
- a £2,000 Employment Allowance for more than a million small employers
· prosecuted 1,289 cases, predominately for tax-related crimes — securing a collective total of 407 years in prison sentences
· protected £9.79 billion in tax through successful litigation
· secured important new tools, including Accelerated Payments powers, which brought in £800 million from tax avoiders last year, and the Diverted Profits Tax, which will shortly secure more tax from multinationals which try to move their profits to other countries
· reduced error and fraud in the tax credit system to 4.4 per cent – the lowest level ever.
HMRC also published the Tax Assurance Commissioner’s Annual Report, which is an established part of their commitment to transparency. It sets out how HMRC’s strengthened governance procedures for resolving tax disputes under civil law procedures operated during 2014-15.