Thompson to step down from HMRC to take FRC role
22 July 2019
Sir Jonathan Thompson is to step down from HMRC this Autumn, after more than three years as chief executive and first permanent secretary and will take on a new role as chief executive of the Financial Reporting Council (FRC).
Sir Jonathan joined HMRC in April 2016 and led the organisation through a period of change and significant performance improvements, including:
- successive, record-breaking increases in the collection of tax revenues due and compliance revenues
- a general downward trend in the tax gap – the gap between tax owed and tax paid
- an overall recovery in customer service levels
- the introduction of Making Tax Digital – online business tax accounts
- opening HMRC’s first regional centre with two more due this year
- preparing for the challenges and opportunities of Brexit
Sir Jonathan said in a statement:
"It’s been a tremendous privilege to lead HMRC for more than three years, so to leave now has not been an easy decision for me to make. However, to have the opportunity to lead the FRC, as it turns into the Audit, Reporting and Governance Authority, and to promote public trust in doing business in the UK, at a point when we’re about to forge new alliances across the world, is too exciting to turn down."
The announcement comes as HMRC’s Annual Report and Accounts for 2018-19 show HMRC in a strong position collecting record revenues due for public services.
This new enhanced regulator was announced by Business Secretary Greg Clark in response to the comprehensive Independent Review led by Sir John Kingman. The new regulator will have a new mandate and stronger powers set down in law.
Sir Jonathan will take up this new role in the Autumn. The recruitment process will begin shortly and an announcement about a successor will be made in due course.
Jim Harra, Deputy Chief Executive and Second Permanent Secretary at HMRC, continues to be the department’s lead for exiting the EU, as has been the case since he took over this role in January 2018.