HMRC has issued fewer penalties to wealthy taxpayers in recent years, and criminal prosecutions of wealthy individuals have also declined. In 2023–24, HMRC issued 456 penalties to wealthy individuals, totalling 37 Qq 20, 87-88, 90 38 Q 105 39 C&AG’s Report, para 3.18 40 C&AG’s Report, paras 17, 3.20 41 Q 96-97 42 Q 98-100 43 Q 90 15 £5.8 million. This is down from 1,747 penalties totalling £20.5 million in 2022–23, and 2,153 penalties totalling £16.2 million in 2018–19. HMRC explained that the number and value of penalties will vary depending on its caseload. For example, it charges automatic penalties for late filing, but other sorts of mistakes may not result in penalty charges. The number of wealthy individuals prosecuted following HMRC’s criminal investigations reduced significantly from 30 in 2019–20 to five in 2021–22 but has since increased to 25 in 2023–24. HMRC said it is expecting a 20% increase by 2029–30 in decisions to charge taxpayers with a criminal offence.44 In the wealthy individuals customer group, we presume this translates into five more taxpayers charged in 2029–30 than currently.