Here are the latest HM Revenue & Customs (HMRC) news highlights I could verify recently:
- HMRC continues to report strong tax receipts and ongoing modernization efforts. The National Audit Office noted that HMRC collected about £843.4 billion in revenue for 2023-24, with related measures to improve compliance and debt management [NAO overview, 2023-24]. This indicates steady growth in receipts and ongoing enforcement and efficiency efforts [NAO overview, 2023-24].[2]
- The 2023-24 HMRC Annual Report and Accounts emphasizes continued compliance yields, with a reported £41.8 billion in compliance yield in 2023-24, exceeding the previous year and top targets in that period [HMRC Annual Report and Accounts 2023-24]. This reflects intensified efforts to close gaps in tax collection and strengthen enforcement [HMRC Annual Report and Accounts 2023-24].[3]
- Post-Brexit updates remain a theme, with HMRC continuing to refine VAT and customs procedures for UK trade, including digital tools to streamline declarations and reduce delays at borders, alongside guidance for businesses navigating new import/export requirements [VAT and customs post-Brexit updates and HMRC guidance].[1]
If you want, I can pull more current items (e.g., press releases, official statements) and summarize them with dates and key implications for businesses and individuals in the UK. I can also provide links to the primary sources for each item.
Would you like me to fetch the official HMRC press releases from their site and give you a concise, date-stamped briefing?
Sources
HMRC is responsible for making sure that the money is available to fund the UK’s public services and for helping families and individuals with targeted financial support.
hm-revenue-customs-hmrc.mynewsdesk.comKeeping up with HM Revenue & Customs news is crucial for businesses and individuals alike.
londoninsider.co.ukHMRC is responsible for making sure that the money is available to fund the UK’s public services and for helping families and individuals with targeted financial support.
www.mynewsdesk.comLatest London news, business, sport, showbiz and entertainment from the London Evening Standard.
www.standard.co.ukLatest London news, business, sport, showbiz and entertainment from the London Evening Standard.
www.standard.co.uk6 4 HM Revenue & Customs This section provides a summary of HM Revenue & Customs’ areas of responsibility, priorities and achievements based on analysis of its most recent Annual Report for 2023‑24. In autumn 2024, the government announced that its three strategic priorities … • Record tax revenues of £843.4 billion in 2023‑24. The increase in revenues is in part due to the freezing of the income tax thresholds which, when combined with inflation, can increase an individual’s tax burden as a...
www.nao.org.ukinterventions. In 2023 to 2024, we secured ‘compliance yield’ of £41.8 billion compared to £34 billion in the previous financial year. This exceeded our annual target of £40.5 billion, which is set to be consistent with the Office for Budget Responsibility’s economic forecasts and
assets.publishing.service.gov.uk