HMRC admit to publishing wrong figures

HMRC have published inaccurate figures

Related to our recent article regarding tax abuse, HMRC have recently apologised for stating that they collected billions of extra pounds in tax revenue. The National Audit Office (NAO) have now uncovered an error was made in 2010 where targets were set £1.9 billion too low, disturbing the trend for future years. The NAO state that HMRC have still been broadly successful in increasing tax revenue collecting £506 billion, £30 billion more than the previous year, which equates to a 6% increase. Targets were still exceeded but to a lesser margin. HMRC figures still stand that they collected almost £24 billion through investigations, being the highest figure to date whilst in addition making £235 million in efficiency savings. HMRC will work with the NAO to avoid future errors.