No let up for HNWs from the taxman
The report, entitled ‘HMRC’s approach to collecting tax from High Net Worth individuals’, examines HMRC's strategy for collecting tax from those with a net worth of at least £20 million.
At the start of 2015/16, HMRC’s specialist HNW unit (first established in 2009) considered there to be around 6,500 HNWs, making up roughly 0.02 per cent of all taxpayers. To read more on why the National Audit Office’s recent re-evaluation of HNWs will see HMRC taking ever greater interest in their affairs, head to Spear's Wealth Management Magazine.
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