Four people have been arrested as part of a HM Revenue and Customs investigation into a multi-million pound phone scam.

Market volatility has seen 450,000 fewer people use investment ISAs but a 21% jump in the use of Cash ISAs, according to the latest figures from HMRC.

A leading firm of tax advisers has warned that after a pause during the Coronavirus pandemic HMRC is relaunching enquiries into taxpayers’ affairs “as a matter of urgency.”

HMRC is to end the automatic sending of paper Self Assessment returns to encourage more people to file online in a bit shift toward digital filing.