Spring Statement 25: Labour doubles down on tax evasion

Aims to raise extra £1bn per year

Chancellor Rachel Reeves today (26 March) pledged to further invest in cracking down on tax evasion to raise an extra £1bn in gross tax revenue per year by 2029/30.

The government will look to technology and invest in HMRC to raise £7.5bn a year through tax avoidance crackdowns. That £7.5bn includes £6.5bn previously announced in last year's (30 October 2024) Autumn Budget. It will add a further 500 HMRC staff, in addition to the 5,000 already announced. In Spring Statement documents published today, the government confirmed the publication of four consultations, including proposals to "strengthen HMRC's ability to take action against those tax advisers who facilitate non-compliance from their clients". Other consultations are focused on third...