
UK Tax Authority Assigns Personal Inspector to Every Billionaire
Britain’s tax man has overhauled its approach to the ultra-wealthy.
The move means every billionaire within HMRC’s reach is now assigned a “personal compliance manager.”
Now that’s what I call customer services.
“His Majesty’s Revenue and Customs has refreshed its population of billionaires to include all those with a UK tax footprint, not just those who file personal tax returns in the UK, a person briefed on the matter said,” reported Bloomberg.
This follows recommendations from spending watchdog National Audit Office, which had released a report on wealthy individuals last year.
That report said that defined “wealthy individuals as those earning more than £200,000 a year, or with assets over £2 million, in any of the last three years.”
It said that it had identified approximately 850,000 individuals as wealthy, around 2 percent of individual UK taxpayers.
“Wealthy people contribute significant amounts of tax revenue to the Exchequer, but their tax affairs are more complex, due to a mix of income streams, assets and business interests. This makes it more difficult for HMRC to identify the tax they owe and presents more opportunities to deliberately not pay the correct amount due,” it added.
“I guess all these workers will be unemployed by the end of the year then. Just didn’t think the UK could get more stupid, but it has,” said investor David Bell, founder of financial analysis platform Fink Money, who posted on X.


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