General · 29 minutes ago
UK tax authority identifies 200 billionaires for closer scrutiny
Photo by Mathias Reding on Pexels
HMRC, the UK tax authority, is assigning a Customer Compliance Manager to every identified billionaire to close the "wealthy tax gap". The crackdown aims to raise £500 million, using new data approaches to get a more in-depth view of their financial affairs. The government also expects to raise about £700 million by 2029-30 by taxing sovereign wealth funds' rental income at 15 per cent.
Reported by thenationalnews.com · How we write briefs