The following press release from the Public Accounts Committee seems to be worth sharing in full because it reflects a great deal of what I have said about HMRC’s weaknesses for a long time. Action is desperately needed. I note what is said on the tax gap.
Excellent, so he’s noted the following:
Tax fraud results in losses of some £16 billion a year, almost half of the £34 billion tax gap – that is, the difference between the amount of tax HMRC collects and how much it should, in theory, collect.
That is, that his estimates of £120 billion are crap.