HMRC expect to collect £1bn more from tax evasion in latest spending review

During the June spending review the government announced as part of its cuts that HMRC is expected to save £1bn in departmental and administrative costs for 2015-16. However, it is expected to increase its targets for revenues from tax evasion to £24.5bn, a £1bn increase on 2014-2015.

George Osborne said when presenting the review: “when it comes to Her Majesty’s Revenue & Customs, despite the fact that this department will see a 5% reduction in its resource budget, we are committed to extra resources to tackle tax evasion”

“the result is we expect to raise over £1bn more in tax revenues from those who try and avoid paying their fair share”