May Told to Crack Down on Tax-Avoiding Millionaires
- Tax receipts of the very rich have dropped, committee says
- Premier often attacks privileged class not paying fair dues
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The U.K. government must get better at collecting tax from millionaires to prove that it is serious about holding the top 1 percent to account.
Individuals with wealth amounting to more than 20 million pounds ($25 million) are provided by the U.K. tax authority with advisers to facilitate their filings, a service that is unavailable to ordinary citizens, the cross-party Public Accounts Committee said in a report published Friday. Since 2009, income-tax receipts from the mega-rich have fallen to 3.5 billion pounds from 4.4 billion pounds.