Business · 3 hours ago
HMRC Writes to Billionaires Asking What They Own
HM Revenue & Customs, OGL 3, via Wikimedia Commons
HMRC's Wealthy Team has sent letters to a few hundred billionaires asking for details of their properties, companies, trusts and other holdings, and inviting them to meetings. Reports suggest the approach could later cover around 850,000 people earning £200,000 or holding £2m in assets. HMRC says it wants to help wealthy customers get their tax right, while critics warn more rich residents may leave Britain.
Reported by LBC · How we write briefs