It will be interesting to see if HMRC will be following the US copying their “whistleblower” payment policy. The US currently gives larger sums of money to individuals that provide evidence of tax fraud.
HMRC paid out £209,000 five years ago, this year that figure has leapt to £509,000. The Exchequer must be taking a close look at the American system which paid out a whopping $37.1 million in 2022.
The American system pays 15 – 30% of the additional tax collected through investigations that resulted from information received from whistleblowers.
In 2022 the average payout for American whistleblowers was $281,060.
The American system is far more generous than the current UK system. If the UK system was more transparent and more widely promoted there is an expectation that there would be far more whistleblowers, particularly if they knew that they could receive life changing sums of money.