As HMRC says:.@HMRCgovuk estimates UK tax gap in 2017/18 at £35 billion, 5.6% of "total theoretical tax liabilities", up from 5.5% in 2016/17 https://t.co/wiTQglKW7N #taxgap— Andrew Goodall (@agoodall4) June 20, 2019
"These are our best estimates based on the information available, but there are many sources of uncertainty and potential error."Bad news for SME's, as HMRC says that they are responsible for 40% of the gap (page 9).
Tax does have to be taxing.
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The thing about these quoted figures is the fact that they are always round numbers. 52.7% of statistics are made up on the spot scenario. There is a tax gap, as there always is. Never any relation to the staff they get rid of, offices closed and experience lost. Any more than crime statistics are due to Police numbers being slashed.
ReplyDeleteArticle yesterday quoted about 150 Billion Euros (round numbers, again) being lost to VAT fraud throughout Europe. HMRC actually took some pre-emptive action to stop this when they became aware of it. Heaven forbid they are actually on the ball for once. Give that man a knighthood.
https://www.theguardian.com/politics/2019/jun/19/hmrc-targets-fraudsters-taking-billions-in-renewable-energy-vat-certificates
Having previously dropped exactly the same ball on Carbon Trading of course.
ReplyDelete"These are our best estimates based on the information available, but there are many sources of uncertainty and potential error."
ReplyDeleteInformation available re. The Tax Gap?
Do you include the amounts of unpaid/uncollected taxes from the amounts declared?
Do you include the amounts of monies not recovered from companies and individuals gone bust in soime way?
Do you include that old chestnut - REVENUE PROTECTED?
Do you include proven unrecovered fraud amounts or court fines and penalties?
Do your 'experts' know what happens to taxpayers credibility during recessions, particularly one of over a decade?
Is a shadow front bench mathematical genius and an abacus used for calculating totals, as per line eleventy twelve?
No, wait a minute, are you looking in the right direction even?
The total for 'other taxes' seems mighty small!
Do you still self-assess your 'performances' or whatever you use to judge your effectiveness?
Answer on the back of a postage stamp please.