Her Majesty's Revenue & Customs is ramping up its scrutiny of up-and-coming high-net-worth individuals. This might lead to more money-laundering enquiries at their banks.

The tax body, the product of a very unhappy marriage between the old Inland Revenue and HM Customs & Excise, set up its High Net Worth Unit as a specialist division in 2009 to handle the tax affairs of the UK’s richest people.

A spokesman for HMRC was unable to say whether many (or any) of the cases that the unit handles have turned into money-laundering cases, but logic dictates that an upsurge in one set of enquiries will lead to an upsurge in the other. The majority of enquiries might end with the discovery of 'rising stars' who are merely evading tax, but a significant number must also unmask HNWs who make their fortunes through clandestine illicit activity.

Fiona Fernie, a solicitor at Pinsent Masons who has contributed to our sister publication, Offshore Red, told the press recently: "They are likely to be successful entrepreneurs and those rising quickly through the ranks at investment banks and other financial services firms. Young sports-stars and a number of well-known celebrities are also targets. Monitoring these taxpayers from an early stage is likely to result in more efficient scrutiny as they move into a higher wealth bracket."

HMRC's unit cointains the following specialist teams.

• The finance team, which focuses on individuals connected to the finance sector in hedge funds, private equity, banks etc.
• The 'rising stars' team, which deals with people whose wealth is increasing rapidly in a way that makes it appear that they will meet the HNWU’s wealth criteria in the next few years.
• The business investment tax relief team, which handles claims for business investment tax relief from individuals not living in the UK who propose to invest in British businesses. Not all requests are approved as some do not meet the required criteria.
• An analysis and intelligence unit, which uses data and analysis to understand the behaviour and financial structures of wealthy individuals and where their interests lie.
• A dispute resolution team that tries to persuade wealthy individuals to reach settlements favourable to HMRC.

The High Net Worth Unit collected an additional £85 million in the tax year of 2009-10; £162 million in 2010-11; £200 million in 2011-12; £222 million in 2012-13; and £268 million in 2013-14. As the team gains experience and HMRC's desperation for money grows over time, the total is bound to grow until it represents a serious slice of governmental income. The percentage of these cases that end up as money-laundering enquiries is unknown, but it is likely that some do.

Compliance Matters, in fact, asked HMRC three questions:

• What percentage of SARs (suspicious activity reports, which banks, asset management firms and others make to the National Crime Agency) in the last year concerned tax?
• Do any of the HNW Unit's cases become money-laundering cases?
• Does HMRC have any idea of the proportion?

The relevant spokesman replied: "My suggestion would be to go through a 'freedom of information' request because none of the data you are asking for has been made publicly available before."