HMRC collect a billion pounds from wealthiest individuals

23 July 2014

HMRC's High Net Worth Unit – a specialist division which deals with the tax affairs of the UK’s wealthiest individuals – has brought in £1billion in compliance yield. Many of these individuals will of course be employed or working for employers under contract.

The Financial Secretary to the Treasury David Gauke made this announcement , explaining that this unit assigns relationship managers to individuals with a net worth of £20 million or more, who monitor the tax risks attaching to them and pursue enquiries accordingly. He said that the £1 billion compliance yield was above target.