There is, however, a duty imposed on such companies to protect those who trade with such companies from abuse, and that is that they place records relating to the company, including its accounts, on public record. This obligation is currently ignored by hundreds of thousands of UK companies each year providing opportunity for many of these companies to tax avoid or evade with impunity and potentially engage in other fraudulent activity without being detected. The cost to society at large is estimated to run to be much more than £10 billion a year.
That\’s one of those wild guesses that Ritche made on the basis of no evidence at all wasn\’t it?
Would be rather clearer if he said \”I guessed £10 billion\” rather than the more official sounding \”is estimated\”, don\’t you think?