HMRC tax investigations soar - FT.com Investigations into personal tax returns returned 64 per cent more money for HM Revenue & Customs in the last tax year as it took a more aggressive stance on self-assessment returns. The proceeds from such investigations shot up to £440.6m in 2011-12, compared with £268.8m collected in 2010-2011, according to information obtained through a Freedom of Information request by UHY Hacker Young, the national accountancy group. Accountants said pressure to meet rigorous targets set by the Treasury was behind the tax authority's increased scrutiny of self-assessment returns. In 2010, HMRC said it intended to bring in £7bn in additional revenue each year by 2014-2015, as part of efforts to reduce the government's budget deficit. HMRC has been focusing particular attention on raising revenue from capital gains tax (CGT) on sales of buy-to-let property and stakes in businesses. It has also turning its attention to the possible underreporting of income from rental property and bank accounts. HMRC is trying to raise revenue across the board by undertaking increasingly painstaking investigations. They are now pursuing smaller infractions," said Roy Maugham, tax partner at UHY Hacker Young. Previously, HMRC resources and manpower were only really used to chase larger amounts of money. Andrew Watt, partner at Watt Busfield Tax Investigations, said: "The Revenue has been ramping up its tax investigations over the past couple of years using a series of new specialist HMRC taskforces that focus on particular types of tax evasion or particular trades and professions." Investigations into trades and professions, such as plumbers and doctors, have focused on businesses, but have also unearthed undeclared personal taxes, said accountants. Other fertile areas for investigation include tax on employee benefits, such as company cars and private medical care. Maugham added: "As it stands, HMRC isn't missing any tricks when it comes to collecting this extra revenue. The targets are high and HMRC is focusing its energy into ensuring it meets them.