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UK Treasury Targets £46.8 Billion Tax Gap with New Measures

11/27/2025

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Summary

Story summary

The UK Treasury aims to close a £46.8 billion tax gap with measures announced in the Budget, including investment to modernize tax systems.
Chancellor Rachel Reeves outlined plans to raise an additional £10 billion by 2029-30, including a US-style whistleblower scheme.
HMRC will boost compliance and debt recovery, targeting businesses in high-risk supply chains.
With nearly £43 billion in tax debt, HMRC is expected to increase enforcement actions.

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Story summary

The UK Treasury aims to close a £46.8 billion tax gap with measures announced in the Budget, including investment to modernize tax systems.
Chancellor Rachel Reeves outlined plans to raise an additional £10 billion by 2029-30, including a US-style whistleblower scheme.
HMRC will boost compliance and debt recovery, targeting businesses in high-risk supply chains.
With nearly £43 billion in tax debt, HMRC is expected to increase enforcement actions.