HMRC doubles payouts to tax whistleblowers amid calls for larger rewards

HMRC's payouts to tipsters have nearly doubled, with almost £1 million paid in 2023/24 to combat the UK's £39.8 billion tax gap.

Andrew Park criticized the current payout amounts as 'paltry,' emphasizing that increasing these rewards could encourage more individuals to provide valuable information regarding tax fraud.

Contrasting with the IRS in the US, where significant financial incentives exist for whistleblowers, Park noted that the UK's system is much less transparent and effective.

Park also highlighted the risk to employment for whistleblowers and lengthy dispute resolution as reasons why individuals may hesitate to report tax fraud.

Read at Business Matters