Key facts
- HMRC is using powerful data tools and industry-specific knowledge to identify tax discrepancies.
- The new focus on digital footprints applies to individuals with income over £200,000 or assets over £2 million.
- HMRC is also increasing international cooperation to gather information on individuals' overseas assets and interests.
The UK's tax authority, HMRC, is enhancing its data-gathering capabilities by incorporating open-source information, including social media activity, to scrutinize the tax affairs of wealthy individuals. This strategy, outlined in a report released alongside the Budget, allows investigators to examine public digital footprints on platforms like Instagram and TikTok for potential tax discrepancies. The initiative targets individuals earning over £200,000 or possessing assets exceeding £2 million, encompassing professionals and business owners. HMRC is also increasing international cooperation to gather information on overseas assets and interests. Separately, a planned tax change for image rights affecting Premier League footballers was delayed by the government.