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?
No.
For why?
The UK companies are low hanging fruit, and are easy target!
Tax does have to be taxing.
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No, not low hanging fruit, these are merely the windfalls that we used to scrump as kids.
ReplyDeleteNeed to look at how the numbers game is being played out, including the old chestnut of revenue protected and also whether there is more emphasis on numbers of evaders as opposed to taqx evaded, never mind lost. Also, in a deep recession, more of the chancers are at it. It must be like stabbing fish in a barrel compared to the opposite end of the market?
What is the stated tax gap these days?
1/2 hour after a Chinese, you want another one.
ReplyDelete