HMRC revenue jumps 14% after offshore crackdown

Pedro Gonçalves
clock • 2 min read

The taxman's efforts to crack down on hidden money offshore has seen a 14% jump in revenue for HM Revenue and Customs, the Financial Times reports. In the 2018-19 financial year, HM Revenue & Customs' offshore, corporate and wealthy unit netted £560m from investigations into British taxpayers with offshore assets and income, up from £490m in 2017-18; a 14%. The data also revealed a 72% increase in tax collected since 2016-17 when £325m was raised. The figures mark the second year of stark growth for the offshore, corporate and wealthy unit. Back in 2016-17, £325m was raised by the tea...

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