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HMRC recovered £1.1bn tax from transfer pricing enquiries during 2013/14, double the amount collected the previous year, according to official statistics.
Financial secretary to the Treasury David Gauke claimed the increase was due to the additional funding given to the Revenue “to challenge multinational groups to ensure the rules are followed and the right tax paid”.
The specialist HMRC unit that examines pricing within multinationals has secured a total of £5.8bn in tax since being launched in 2008.
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The HMRC division dedicated to investigating the affairs of affluent taxpayers collected £137.2m in additional tax in 2013/14, up from £85.7m in 2012/13, an increase of 62%, according to law firm Pinsent Masons.
Around 500,000 individuals are potential targets of the Revenue team that focuses on UK residents with an annual income in excess of £150,000 or wealth of more than £1m. They are people not deemed rich enough to be the concern of the tax department’s high net-worth unit.