Overview

• HMRC stepped up activity in 2023/24 with 648 dawn raids and 430 new criminal investigations into suspected tax fraud.
• Ministers aim to boost prosecutorial decisions by 20% by 2029/30, equating to roughly 100 additional cases on current volumes.
• The fraud investigation service workforce has increased from 4,400 in 2018/19 to 4,800 today with plans to reach 5,400 by 2029/30.
• The government estimates £5.5bn was lost to tax evasion in 2022/23, prompting intensified enforcement under the ‘Close the Tax Gap’ plan.
• Companies without robust due diligence face VAT penalties, input-tax denials and possible cancellation of their VAT registration.