Taxman’s haul from individuals up 38%

The taxman’s haul from investigating individuals over their personal tax returns has surged by more than a third over the last year, an accountancy firm has warned.

Figures obtained by UHY Hacker Young reportedly show that HM Revenue & Customs collected £609m in tax for 2012-13, compared with £441m in the previous year.

Reflecting to the Financial Times on the 38% increase in yield, the accountant put it down to the Revenue increasing its scrutiny of self-assessment returns in order to recoup lost taxes.

Property investors were singled out among the victims of a more wary taxman, who has launched crackdowns on novice landlords, experienced investors and house-sellers alike.

The Revenue’s focus was also said to have intensified on taxpayers in particular professions, such as barristers and doctors and, more recently, healthcare workers who are self-employed freelancers.

 

20th October 2013

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