HM Revenue and Customs (HMRC) has secured almost all of the disputed tax due from the first group of tax avoidance scheme users to receive Accelerated Payment notices.
About 30 scheme users were told in late August they had 90 days to pay a total of around £29 million of disputed tax upfront under the new Accelerated Payments regime.
Over 99% of this money was paid within the deadline, with several payment arrangements also in place. Taking into account payments received from those who have not yet passed the 90 day payment deadline, HMRC has received £32 million in disputed tax to date.
Financial Secretary to the Treasury David Gauke said:
The high success rate for the first set of Accelerated Payments notices shows avoidance scheme users are having to face up to the reality that they should pay their tax upfront, like the vast majority of taxpayers.
As we move into 2015 and HMRC ramps up the number of notices it sends out, thousands more will get the message that Accelerated Payments has changed the economics of tax avoidance.
Jennie Granger, Director General for Enforcement and Compliance, HMRC, said:
These results show HMRC is making good progress in tackling marketed tax avoidance. If anyone is concerned about being able to pay an Accelerated Payment notice, they should contact us as soon as possible to discuss their options.