HMRC primed for £9bn tax clampdown

HMRC has been exempted from further budget cuts in the next few years, according to yesterday's Autumn Statement. 

The Chancellor has pushed the department to come up with even more tax revenues over the next five years, as the government seeks to gain an extra £9bn by extending existing measures against tax avoidance and evasion and reducing tax credits errors.

Of the £9bn package announced by Chancellor Osborne in the autumn statement, £6.8bn is expected to come from existing measures to counter tax avoidance including the GAAR introduced in July to deter artificial tax schemes, international co-operation to share data from tax havens, and closing tax loopholes. 

The government is looking for an extra boost by requiring foreign property owners to pay CGT on any profits made on selling...

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