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‘Big data’ helps HMRC increase UK tax haul by £4.6bn

Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. HM Revenue & Customs’ flagship “big data” system brought in an extra £4.6bn of tax in 2024-25 by drawing on multiple sources including bank records and social media. HMRC said in response to a Freedom … Read more

HMRC does not know how much tax billionaires pay, say MPs

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s tax authority does not know how much tax billionaires pay, an influential group of cross-party MPs has found, as the government considers a levy on the country’s richest individuals to close the country’s … Read more

HMRC has ‘lost control’ of small businesses as missing tax hits 40%

Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. Small businesses in the UK failed to pay 40 per cent of the corporation tax they owed in 2023-24, leading to claims that HM Revenue & Customs has “lost control” of the sector.  Although the … Read more

HMRC to Require Crypto Users to Share Personal Info Starting 2026

If you’re a UK resident dabbling in crypto, there’s a big tax shake-up coming your way. Starting January 2026, HM Revenue & Customs (HMRC) is tightening the rules on crypto to make sure no gains slip through the cracks. Platforms will be required to collect detailed personal info from users and report it to the … Read more

HMRC ditches crackdown on private equity tax

Stay informed with free updates Simply sign up to the UK tax myFT Digest — delivered directly to your inbox. The UK tax authority has reversed a crackdown that private equity and professional services firms had feared would result in hundreds of millions of pounds of retrospective tax liabilities. HMRC made unexpected changes last year … Read more

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