Tag: HMRC - Tax Policy Associates

Posts tagged "HMRC"

a bill from HMRC sent to Andrea for almost £9,594.79. Andrea never owed HMRC any tax.

Jul 6, 2025 Analysis

600,000 HMRC penalties issued to low-income earners who owe no tax

In the past five years, 600,000 people who owe no tax have been charged HMRC late-filing penalties. The penalties start at £100, but can snowball into four- and five-figure debts: one woman with severe mental-health difficulties was pursued for £10,000; another was driven into bankruptcy. A system that was intended to encourage timely tax filing […]

Sep 30, 2024 Analysis

The £10bn R&D tax relief scandal: the evidence and the blame

Recent events have highlighted R&D tax credit fraud. However we believe the scale of the problem is much higher than previously reported. We’ve a new analysis suggesting that the total cost of fraudulent and mistaken claims could be £10bn, or even higher. The mystery is how this went on for so long, when plenty of […]

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Oct 12, 2023 Analysis

Fractional shares and ISAs – HMRC are probably wrong

The FT ran a fascinating story yesterday about a dispute between HMRC and some ISA platforms over whether the ISA platforms can sell investors fractional shares. HMRC are saying the ISA rules don’t permit this. HMRC is usually right, but in this case we think they’re probably wrong (perhaps misled by some confusing ESMA guidance). […]

Number of Taxpayers

350,000

300,000

250,000

200,000

150,000

100,000

50,000

0

Total number of late filing penalties on taxpayers in each income decile - 2018/19 to 2021/22

Personal allowance - incomes
Under this are not taxed

1st 2nd 3rd ath Sth eth 7h ath ‘oth

Income Decile

Toth
IE Total Penalty appealed
IB Total Penalty charged

Jun 26, 2023 Investigations

Penalising the poor: 420,000 HMRC penalties charged to people who earned too little to pay tax. That’s 40% of all HMRC late filing penalties.

Between 2018 and 2022, almost 660,000 people on low incomes received a penalty for not filing a tax return on time. Very few of them earned enough to pay any tax. But, by failing to submit a tax return, they were fined at least £100, and often thousands of pounds. For most of those affected, the penalty represents more than half their weekly income. This report illustrates the scale of the problem. 45% of all HMRC late filing penalties were charged to people on low incomes, most of whom actually owed no tax. We believe the law and HMRC practice should change, and we make three key recommendations.

Number of accounts

7,000,000

6,000,000

5,000,000

4,000,000

3,000,000

2,000,000

1,000,000

Number (lines) and balances (bars) of foreign accounts held by UK taxpayers
and reported to HMRC under CRS

mw Non-tax havens

m@ Tax havens

£607bn
£445bn £280bn

£116bn

£569bn

£405bn

2016 2017 2018 2019

May 27, 2022 Investigations

Tax Policy Associates report: UK taxpayers have £570bn in tax haven accounts, and HMRC has no idea how much of this reflects tax evasion

FOIA requests made by Tax Policy Associates reveal that £570bn is held in tax haven bank accounts by UK taxpayers, but HMRC has made no attempt to estimate how much of this is undeclared in UK tax returns, and therefore reflects tax lost to criminal tax evasion. The background Since 2018, almost all UK residents […]