HMRC has publish its latest report and accounts.

Headlines

• £843.4 billion total tax revenues collected which is a 3.6% increase on 2022 to 2023
• VAT – gross revenue was  £277.7 billion, less: revenue repayable of £112.2 billion – net revenue was £165.5 billion
• £41.8 billion tax “protected” by tackling avoidance, evasion and error – including £13.7 billion by promoting compliance and preventing non-compliance before it occurs
• 83.1% taxpayers satisfied or very satisfied with its online services
• HMRC app received 88.5 million logins by 3.8 million unique users, a growth rate of over 64% compared with the previous year
• 40 tax avoidance schemes, 39 promoters and 24 connected persons publicly named
• 430 new criminal cases and more than 10,200 civil investigations into suspected fraud
• 3,629 anti-money laundering interventions
• 1.5 billion suspicious or malicious events blocked by cyber security team every month
• £1.9 billion tax revenue protected through enhanced repayment and identity verification controls
• “Customer” satisfaction has decreased to 78.6% from the previous period and missed the low 80% target
• The percentage of customer correspondence cleared within 15 working was 76.3% and again, the 80% target was missed
• The telephony adviser attempts handled was a very poor 66.4% and significantly missed the 85% target
• Total debt balance reduced to £44.6 billion from £45.9 billion at the end 2023.
• Tax debt as a proportion of total tax revenue fell from 5.4% in 2023, to 5.1% in 2024
• Tax losses were £5.6 billion, of which £5.0 billion is write-offs and the remainder remissions. ‘Remissions’ is a term used describe money owed to HMRC which it has decided not to pursue
• Overall service levels on telephony and correspondence remained below service standards and it was recognised that this “caused real difficulties for some customers and agents”
• Individuals’ rating of trust in HMRC has decreased since 2022 and it has continued to decrease amongst agents and small businesses since 2021

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