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It's staggering to me that £46 billion goes to HM Revenue and Customs. So it costs £46 billion to administer £506 billion in tax revenue! That's almost 1/3 the
by Reason077 7y ago
It's staggering to me that £46 billion goes to HM Revenue and Customs. So it costs £46 billion to administer £506 billion in tax revenue! That's almost 1/3 the budget of the entire NHS!
That doesn't seem like a good ROI at all. A product of an over-complicated tax system?
- mighty_bander 7y agoAn 11:1 return seems pretty efficient given the nature of their work.
- lammasass 7y agoOddly enough, your rational comment has been downvoted.
- hardlianotion 7y agoMakes you want to see how other countries spend their tax take, doesn't it?
- cmdkeen 7y agoThat may include tax credits, don't assume it is just "administration" costs.
- XJ6 7y agoYes, HMRC has 56,000 employees, so it's unlikely that's all or indeed mostly administrative costs.
- pjc50 7y agoSounds like we need more drilldown into their annual report.
- mytailorisrich 7y agoI'm not sure what this number represents, assuming it is correct, but it is certainly not how much it costs to run HMRC. "It cost £4 billion to run HMRC in 2018-19" [1] (page 18) [1] https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/824652/HMRC_Annual_Report_and_Accounts_2018-19__web_.pdf https://assets.publishing.service.gov.uk/government/uploads/...
- politelemon 7y agoThat data looks incorrect. According to this, the HMRC budget is 4 billion. https://www.gov.uk/government/publications/hmrc-annual-report-and-accounts-2018-to-2019/overview-of-hmrcs-annual-report-and-accounts-2018-to-2019 https://www.gov.uk/government/publications/hmrc-annual-repor... Which also matches the 4 billion that the HMRC wikipedia page links to https://webarchive.nationalarchives.gov.uk/20130127142016/http://www.hmrc.gov.uk/about/hmrc-accs-0910.pdf https://webarchive.nationalarchives.gov.uk/20130127142016/ht...
- pliny 7y agoIf you go back a year you can get some detail into what HM Revenue and Customs spends it's money on (90% of it is under the title 'social protection' which is child welfare and tax credits). The collection and enforcement looks like it costs 4 billion at most.
- J-dawg 7y agoTax credits deserve some scrutiny. A significant portion of tax revenue is effectively being paid as a subsidy to businesses allowing them to systematically underpay their staff.
- richmarr 7y agoI don't know what their actual budget looks like, but I do know that they're huge and have been making significant changes around digital transformation. That would result in high spending followed by later savings.