27th January 2017 - ‘HMRC must get tougher on rich tax avoiders,’ says Islwyn MP
Islwyn MP Chris Evans has said that HM Revenue and Customs must do more to improve collection of tax from wealthy individuals as a critical report is published by the Public Accounts Committee.
The report, which comes after an inquiry on tax collection from people worth over £20 million, has raised concern that lack of transparency has eroded public trust in the tax system. It also expresses ‘alarm’ at the fact that around one third of those worth over £20 million are under tax investigation at any one time.
Recommendations made by the committee call on HMRC to publish more information, become more transparent and assess what it can do to take a tougher approach to ensure wealthy taxpayers pay their fair share of tax.
Committee member Mr Evans said: ‘We all rely on HM Revenue and Customs to collect the tax it is due. This is as true of the super-rich as it is for everyone else. Yet it is not clear that HMRC is doing enough.
‘It is shocking and an indictment of the tax system that one third of high-wealth tax payers are under investigation at any one time. The potential loss to the taxpayer is clearly very high and serious questions must be asked and changes made to put an end to tax evasion and avoidance.
‘HMRC must act now to get tougher on rich tax avoiders who fail to pay their fair share in tax.’
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