CCH Daily reports that HMRC has raised an additional £3.5BN in the last year through inquiries into the under-payment of VAT by small businesses, according to research by tax investigation insurance company PfP which suggests this sector is coming under increasing scrutiny.
However, a loyal reader has sent me a link to a Radio 5 report about Chinese online traders who are allegedly evading VAT (possibly to the tune of around £2BN, if the report is to be believed).
Is HMRC chasing these people with the same veracity as it chases UK companies?
The UK companies are low hanging fruit, and are easy target!
Tax does have to be taxing.
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