HMRC recoups £26m missing inheritance tax using complex pc systems

Millions of pounds in missing inheritance tax have been recovered by the taxman over the past year under as a result of its ‘Connect’ IT system.

The ‘Connect System’ can cross reference personal information ranging from bank accounts, loans, company ownership and property transactions. The new software, introduced a year ago, can also sift through employment history and self-assessment records. It is being used to analyse more than 300,000 people who claim every year that their inheritance falls below the threshold of £325,000.