HMRC introduces whistleblower reward program for tax evasion tips

HMRC has launched a US-style reward scheme for individuals reporting serious tax evasion and avoidance. Successful whistleblowers could receive up to 30% of recovered funds. The scheme targets cases involving at least £1.5 million in unpaid tax, potentially yielding hundreds of thousands for informants. This mirrors a successful IRS program that paid $88.8 million to whistleblowers in one year. This initiative aims to recover significant tax revenue lost to large companies, wealthy individuals, and complex avoidance schemes, though investigations can be lengthy.