UK Chancellor Rachel Reeves plans to close a £39.8bn tax gap by hiring 5,000 HMRC compliance officers and implementing e-invoicing.

UK Chancellor Rachel Reeves announced plans to close a £39.8 billion tax gap by recruiting 5,000 additional HMRC compliance officers over five years. The initiative includes mandatory e-invoicing to streamline tax data transfer and digitization efforts to reduce phone service demand. Reeves emphasized her commitment to tackling tax evasion and avoiding public spending cuts, aligning with Labour's focus on economic stability without introducing a wealth tax.

September 22, 2024
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