Troup was appointed as executive chair and first permanent secretary in February 2016, after joining HMRC in 2012. He is currently the most senior tax professional and during his time at the department has fulfilled the roles of tax assurance commissioner and lead the former business group Central Tax and Strategy.

Troup joined HMRC from the Treasury where he was director of business and indirect tax before being promoted in 2010 to director-general of tax and welfare.

In 1995 Troup was asked to join the Treasury as special adviser on tax to Kenneth Clarke, the then Chancellor. Troup worked on the 1995 and 1996 Budgets, before returning to Simmons & Simmons in 1997 as head of tax strategy.

Speaking of his retirement, Troup said: ‘After nearly 40 years in the world of tax, and the last 13 working in HM Treasury and HMRC, I have decided to retire from my role as Chair of HMRC.

‘We have just delivered our best ever annual performance and I am immensely proud to end my professional career in tax in the department which is at the heart of the UK’s tax system.’

Chancellor of the Exchequer, Philip Hammond, said: ‘My colleagues and I are very grateful to Edward for his service to HMRC and HM Treasury – his deep expertise and experience has rightly gained him the respect of the tax world and he retires with our very best wishes.’

It is not known who will take over Troup’s role either as an interim or a permanent replacement.

Report by Amy Austin