HMRC pays out £400k to tax-dodge informants

clock

HMRC paid out a record £400,000 in 2013 to people whistleblowing on tax avoidance activities, a Freedom of Information (FoI) request has revealed.

The 2013 payout represents a 30% rise in rewards for informants over the last three years, according to figures obtained by The Telegraph. Every day some 250 people are tipping off the taxman about suspected tax dodging by acquaintances such as ex-partners, former bosses and neighbours, according to the paper. There are financial rewards available to people using HMRC's hotline as part of a reward scheme. These range from between £50 and £1,000 and are usually provided when the whistleblower supplies information which leads the taxman to a "big win" from a wealthy individual, The T...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Partner Insight: Is it time to rebalance portfolios as the UK economy stabilises?

Partner Insight: Is it time to rebalance portfolios as the UK economy stabilises?

Brooks Macdonald
clock 18 November 2024 • 2 min read
Partner Insight: The case for value in a balanced portfolio

Partner Insight: The case for value in a balanced portfolio

It’s been an anemic time for value stocks but the managers of Vanguard’s active multi-asset range think a focus on valuations could be rewarded.

Madison McCall Active Product Specialist, Vanguard, Europe
clock 18 November 2024 • 5 min read
Stories of the Week: UK wage growth cools less than expected; Reeves planning pension 'megafunds'; US inflation rises

Stories of the Week: UK wage growth cools less than expected; Reeves planning pension 'megafunds'; US inflation rises

Wage growth, pension 'megafunds' and US inflation: The biggest stories from the world of investment and asset management this week

clock 15 November 2024 • 1 min read
Trustpilot