Budget 2026: what extra HMRC funding means for taxpayers
Jon Barratt and Jessica McLellan discuss what the latest Budget means for HMRC.
The Chancellor announced an extra £555 million to help close an estimated £60 billion tax gap. Most of this will pay for new compliance officers, who are expected to bring in more than £1.5 billion over five years.
HMRC will also get new powers to take small tax debts directly from bank accounts, and will make more use of external debt collectors. Jess expects investigations to focus on small businesses and their directors and shareholders, as well as wealthy individuals with complex offshore structures.
The advice is simple: if you receive an enquiry, get specialist advice from the start, and raise any uncertainties openly with HMRC rather than waiting for them to find them.
