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Whistleblowers could soon pocket millions of pounds as HM Revenue & Customs prepares to introduce a US-style rewards scheme to tackle tax fraud. Informants could receive up to 30% of any taxes recovered thanks to their tip-offs – potentially turning whistleblowers into some of the UK's richest citizens overnight.

The programme, expected to be unveiled at the Budget on November 26, is the first of its kind in the UK. It is aimed at large-scale tax evasion, which HMRC estimates cost the Treasury £5.5bn in 2022-23 – though experts warn the true figure is likely far higher.

"By providing a financial safety net for whistleblowers in the form of monetary rewards, HMRC is poised to supercharge its enforcement capabilities," said Mary Inman, a US lawyer at Whistleblower Partners.

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