‘One rule for rich, another for everyone else,’ say MPs slamming British tax system

588b5900c46188e55a8b4643

‘The failure by HM Revenue and Customs (HMRC) to get tough with Britain’s super rich is undermining confidence in the whole tax system, MPs have warned in a scathing new report.

Since the HMRC set up a specialist unit for dealing with “high net worth individuals” in 2009, the amount of income they pay has fallen by £1 billion (US$1.26 billion) despite tax receipts from the public as a whole rising by £23 billion over the same period.

The Commons Public Accounts Committee report accused HMRC of creating the impression there was “one rule for the rich and another for everyone else.”

The Committee questions HMRC’s strategy for dealing with the very wealthy, which suggests “they get help with their tax affairs that is not available to other taxpayers.”’

Read more: ‘One rule for rich, another for everyone else,’ say MPs slamming British tax system