HMRC raises £1.5 billion from special investigations into the wealthy in 2023/24 – how can you protect yourself?

The taxman more than doubled the amount it raised from investigations into wealthy individuals year-on-year. How can you make sure you’re not caught out?

Calculator on top of an envelope from HMRC
(Image credit: Peter Dazeley via Getty Images)

More than £1.5 billion in tax was taken by HMRC from special investigations into the wealthy in the 2023/24 tax year, more than double the £713 million it yielded in the previous year.

The tax was collected by HMRC’s Wealthy and Mid-Sized Business Compliance Directorate, a team whose job it is to track down individuals who are suspected of leaving some of their tax bill unpaid, according to law firm Pinsent Masons.

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Daniel is a digital journalist at Moneyweek and enjoys writing about personal finance, economics, and politics. He previously worked at The Economist in their Audience team.

Daniel studied History at Emmanuel College, Cambridge and specialised in the history of political thought. In his free time, he likes reading, listening to music, and cooking overambitious meals.