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Source: United Kingdom UK Parliament (video statements)

How can HMRC ensure wealthy individuals pay their taxes?

The population of wealthy individuals that HMRC administers has grown from 700,000 in 2019-20 to 850,000 in 2023-24. HMRC defines wealthy individuals as those earning more than £200,000 a year, or with assets over £2 million, in any of the last three years. The National Audit Office (NAO) found in May 2025 that additional revenue secured by HMRC from wealthy individuals has more than doubled – from £2.2bn (2019-20) to £5.2bn (2023-24).

The scale of this rise raises questions about whether non-compliance amongst wealthy individuals may not be far higher than HMRC has detected. Wealthy taxpayers have also faced fewer penalties in recent years – down to 456 penalties totalling £5.8m in 2023-24, from 2,153 totalling £16.2m in 2018-19.  

The PAC will hear from senior officials at HMRC as part of its inquiry, including John-Paul Marks CB, HMRC’s Permanent Secretary, in his first appearance before the Committee in his new role. Committee members are likely to explore whether enough is being done to bring in tax revenue from billionaires and the super-rich, as well as what impact changes to the regime for non-doms (non-domiciled residents)will have on its compliance work.

Other likely topics include whether there is enough transparency about the amount of tax the wealthy pay. The PAC warned in 2017 that a lack of transparency would leave HMRC open to the perception that, in its dealings with taxpayers, there is one rule for the rich and another for everyone else. The session is also likely to see an exploration of HMRC’s understanding of the risks of non-compliance associated with wealthy individuals – HMRC has identified the net loss in tax revenue from key risks amongst this cohort increasing 21% between 2020-21 and 2022-23. 

The session will also see questions around the recent disclosure to the Treasury Committee of a phishing attack costing the taxpayer approx.£497m and affecting approx.100,000 taxpayers. Members are likely to seek further details as to the nature of the attack, and why HMRC did not report it sooner.

#UKPolitics #HouseOfCommons #Tax #Wealth #Treasury #HMRC

https://www.youtube.com/watch?v=BV3c53eVD1k

Source: United Kingdom UK Parliament (video statements)

Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

The Leader of the Opposition, Kemi Badenoch MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

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https://www.youtube.com/watch?v=MYOzDzhz3mE

Source: United Kingdom UK Parliament (video statements)

The UK rollout of energy smart meters is a key part of the clean energy transition, but the programme has faced ongoing criticism. the Energy Security and Net Zero Committee will question key industry and consumer bodies—including Citizens Advice, Energy UK and Smart Energy GB, which leads on public engagement—about the reliability and cost-effectiveness of smart meters.

https://www.youtube.com/watch?v=L0DuYteAfOw