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Tax avoidance crackdown yields £23.9bn

May 27, 2014 6:06 PM
Originally published by UK Liberal Democrats

A government crackdown on tax avoidance has raised a record £23.9bn in additional tax for the year to the end of March, a new report has revealed.

HM Revenue and Customs (HMRC) said it had secured the money as a result of its investigations into tax avoidance.

The amount is almost £1bn higher than the target set in the Autumn Statement.

The extra money raised is in addition to regular tax receipts.

According to HMRC more than £8bn of the amount raised came from large businesses, £1bn from criminals and £2.7bn from tackling avoidance schemes in courts.

In total, HMRC has said it expects to secure £100bn between May 2010 and March 2015 as a result of its investigations into unpaid tax.