Summer Budget 2015: HMRC to be bolstered by an additional £750m

For an up-to-date summary please visit our budget updates page.

As part of the Summer Budget 2015, George Osborne announced plans to provide HMRC with further investment of £750m.

What does this mean?

The Chancellor made a clear statement of intent. The money will be used to tackle tax avoidance and evasion, with offshore trusts and other structures coming under the spotlight.

The government also aims to widen the scope of its anti-avoidance role to enable them to name avoiders involved with failed schemes as well as repeat offenders.

What can we expect?

Alan McCann, Head of Tax Dispute Resolution at accountancy firm DTE Group says:

“We’ve known for some time now that the government will throw their weight behind HMRC in terms of dealing with tax avoidance.  The Chancellor couldn’t have been any clearer in his Summer Budget 2015 speech that he means business.  Whilst other government agencies appear to have had significant cuts, the fact that HMRC will receive further funding of £750m during this Parliament means that no one will be far from scrutiny.  We can expect to see a further rise in the number of HMRC enquiries into taxpayers’ affairs.”

Next steps

If you’re concerned about an of the issues raised in the summer Budget or need specialist tax advice, please contact us on 0161 767 1200.