Warnings from HM Revenue and Customs (HMRC) were sent out to around 30 tax avoidance scheme users in August giving them a 90-day window in which to pay back tax.
Less than 1% of those who were issued the notices failed to meet the deadline, and a number of payment arrangements have been set up since the implementation of the initiative.
“The high success rate for the first set of accelerated payments notices shows avoidance scheme users are having to face up to the reality that they should pay their tax upfront, like the vast majority of taxpayers,” said the financial secretary to the Treasury, David Gauke.
“As we move into 2015 and HMRC ramps up the number of notices it sends out, thousands more will get the message that accelerated payments has changed the economics of tax avoidance.”
Over the next 12 months, more than 43,000 individuals and businesses are expected to be issued with the notices. The government body are hoping to secure £7.1bn in disputed tax.
Director general for enforcement and compliance at HMRC, Jennie Granger, said the results from the first bout of accelerated payment notices show that HMRC is making “good progress in tackling marketed tax avoidance”.
