HMRC has published its annual report and accounts 2024 to 2025 on 17 July 2025.
Highlights
- Total tax receipts were £875.9 billion – a 3.9% increase from 2023/24
- VAT revenue was £178.5 billion – an increase of £13.0 billion on 2023/24 figures
- 5,500 new compliance officers for HMRC
- A focus on technology transformation including the use of AI
- Aim to bring in an additional £7.5 billion per year by 2029/30 by an increased use of technology
- Focus on improving ‘customer’ service (taxpayers!)
- 310 prosecutions brought as a result of our criminal investigations, securing 281 convictions
- 76.2% proportion of customer service interactions made through automated or digital self-serve channels
- 2.8 million number of new HMRC app users
- 30m+ VAT returns processed by Making Tax Digital for VAT
- 26-40 hours saved per year, on average, for each business using fully functional MTD for VAT software
- 78 million declarations made on HMRC Customs Declaration Service
- £5.1 million financial penalties issued for non-compliance with money laundering regulations
- HMRC three ongoing priorities:
- closing the tax gap
- improving day-to-day performance and the customer experience
- driving reform and modernisation of the UK’s tax and customs system .