HMRC sets out new approach to wealthy taxpayers

Commenting on the Wealthy Plan, Annis Lampard, tax partner at Deloitte UK, said:

“Although the Chancellor’s headline measures today are targeted at everyday workers, this Budget also speaks to some of the country’s most wealthy.

“In June 2025, HMRC were challenged by the Public Accounts Committee on their lack of understanding of tax compliance across the 1.3 million taxpayers classified as wealthy. Published today, the ‘Wealthy Plan’ makes clear that HMRC wants more targeted interactions with this population, backed by the significant amounts of data HMRC receives, to deliver an extra £500 million in revenue per year.

“For anyone with over £200,000 of annual income or net assets above £2 million, today is an important moment to reflect on how clearly you understand and can evidence your UK tax position and your dialogue with HMRC. For ultra high net worth individuals in particular, there is a commitment to annual tax reviews which make clear that the letters issued this summer are the start of a major step change.”

Note to editors

Deloitte spokespeople

Deloitte has a range of spokespeople available to comment on today’s Budget. They can be reached on 02920 927541 or one of the following numbers: 

• Amanda Tickel – head of tax and trade policy (+44 7920 270964)
• Debo De – chief economist (+44 7887 629107)
• Rachel McEleney – personal tax (+44 7774 337581)
• Alison Lobb – corporate tax (+44 7774 337581)
• Michael Nicolaides – employment tax (+44 7586 511104)
• Toby Price – stamp duty (+44 7824 895798)
• Andrew Clarke – VAT (+44 7887 629107)
• Chris Baldwin – business rates (+44 7785 682226)
• Ed Roddis – public sector (+44 7785 682226)
• Peter Johnson – FS/bank tax (+44 7586 511104)
• Annis Lampard – private tax (+44 7824 895798)
• Richard Bray – Places (+447990434703)
• Ian Goodsell – Private client (+447990434703)

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