Money Marketing today reports that HMRC has taken more than £2bn from tax avoiders since the launch of new accelerated payment rules introduced by in 2014.
The measures, introduced to collect disputed tax while affairs are being investigated, build on HMRC’s track record of winning 80 per cent of avoidance cases that go to court.
The tax office has now issued more than 41,000 accelerated payment notices since the launch of the scheme, and expects to have raised over £5bn by March 2020.
HMRC is now issuing more than 3,000 notices every month.
Treasury financial secretary David Gauke describes the accelerated payment scheme as “a game changer”.
He says: “HMRC already wins the vast majority of cases that go to court and now HMRC has taken more than £2 billion from tax-avoiders who would have otherwise benefitted from that cash while they were being investigated.
“It should be absolutely clear to anyone who is tempted by these schemes that tax-avoidance does not pay.”