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Tag: tax gap

Tax Gap Remains Low

15th July 2019 | Written by In Accountancy | Categories : News, Personal Tax, Tax Advice
Tagged in: HMRC, Tax, tax gap,
Tax Gap Remains Low

HMRC has published a report showing that the UK tax gap in 2017/18 is estimated to be £35 billion.  This is 5.6% of total theoretical tax liabilities, and a small increase of 0.1% from 5.5% in 2016/17. HMRC therefore secured
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UK ‘tax gap’ falls to 5.7%

13th July 2018 | Written by In Accountancy | Categories : News
Tagged in: HMRC, tax gap,
UK ‘tax gap’ falls to 5.7%

HMRC has confirmed that the ‘tax gap’ for 2016/17 has fallen to 5.7%. The ‘tax gap’ is the difference between the tax that should theoretically be paid to HMRC and the actual tax that has been paid. HMRC believes that
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HMRC tackle tax gap

23rd September 2015 | Written by In Accountancy | Categories : News
Tagged in: HMRC, tax gap,

HMRC will tackle the tax gap created in the hidden economy. This consists of businesses who fail to register for tax, and individuals who fail to declare a source of income. HMRC estimates that the tax gap in 2012/13 due to the
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