HMRC paid out almost £1m to those making tip-offs over tax fraud in 2023/24, with this the highest rate in seven years and 92% up on the £508,500 paid out the year before. Analysis by Price Bailey shows that HMRC received 151,763 anonymous tip-offs in 2023/24, with this down on the 157,270 reports received in 2022/23. Price Bailey partner Andrew Park said that “while HMRC has paid out a record amount to tax whistleblowers, it is still a paltry sum when set against the billions lost to tax fraud every year.” The payouts came as part of the tax office’s effort to reduce its £39.8bn tax gap. It is noted that the IRS in the US makes larger payments to whistleblowers, with the tax agency handing over a combined $89m to 121 whistleblowers, with this leading to the recovery of $338m in tax.
