HMRC receives £32 million from Tax Avoidance Scheme Users
The first crop of tax avoidance scheme users to receive the much publicized Accelerated Payment Notices (APN) have paid the taxman a staggering £32 million to date. Around 30 scheme users were informed in the summer that they had just 90 days to pay around £29 million in disputed taxes under the new Accelerated Payment Regime.
First revealed in the 2013 Budget, the regime is designed to remove the current favorable terms enjoyed by taxpayers of holding onto any disputed tax during an avoidance dispute. The Taxman said more than 99% of this money was paid within the deadline. Taking into account other payments, it has received £32m in disputed tax as of 15 December 2014.
David Gauke, Financial secretary to the Treasury said: “The high success rate for the first set of accelerated payments notices shows avoidance scheme users are having to face up to the reality that they should pay their tax upfront, like the vast majority of taxpayers.
“As we move into 2015 and HMRC ramps up the number of notices it sends out, thousands more will get the message that Accelerated Payments has changed the economics of tax avoidance.”
Director general for enforcement and compliance at HMRC Jennie Granger, added: “These results show HMRC is making good progress in tackling marketed tax avoidance.”