The amount the tax man collects from interest charges has grabbed some media attention in recent weeks, as new data was published.
Following a Freedom of Information request, it was revealed that HMRC received more than £400m purely from interest charges in the
last calendar year (January to December 2024).
This figure includes money that has come from taxpayers, trusts and estates that missed payment deadlines.
You may also like...
-
Friday, January 10, 2025Read more100,000 HMRC accounts hit by scammers
HM Revenue and Customs (HMRC) revealed that it suffered a phishing attack that led to the compromise of around 100,000 personal
tax accounts... -
Sunday, January 12, 2025Read more
Many risk paying tax twice due to multiple HMRC letter demands
HMRC has sent multiple tax demand letters to some taxpayers this year. The first letter did not include tax owed on savings interest. A second ...
-
Sunday, January 12, 2025Read more
Top earners see an increase in HMRC investigations
HMRC is intensifying its crackdown on wealthy taxpayers, backed by major government funding, with investigations rising sharply. HMRC’s w...
