HMRC beefs up wealth team

HM REVENUE & CUSTOMS yesterday announced it will hire 100 additional inspectors to investigate the tax affairs of high earners.

They will work alongside the 200 existing members of the Affluent Compliance Team to ensure people with an annual income of more than £150,000 – or wealth of more than £2.5m – pay their tax in full.

HMRC claim the unit has already raised an additional £75m in tax that would otherwise not have been collected and hopes to raise £586m by the end of 2015.