TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

High Net Worth Unit Collects £220m From Enquiry Work

HMRC's High Net Worth Unit, which deals with the tax affairs of 5,800 people with assets in excess of £20 million, increased its yield from tax enquiries by 10% in the 2012/13 tax year, having collected £200 million in 2011/12.

It was announced that the unit has raised a total of £665 million in additional tax over the last four years specifically as a result of enquiry work.

The unit employs 380 staff across the UK with caseworkers engaged to rigorously examine tax returns for potentially inaccuracies. More details about HMRC's compliance work are contained in their latest progress report on the HMRC website.