Accountancy Live: HMRC has issued its estimate of the UK tax gap for 2010/11 - a staggering £32bn – some 6.7% of tax due, compared to 7.1% in 2009/10. Calculated from 30 separate estimates for different taxes, HMRC said the deficit was down to a combination of ‘tax evasion and avoidance, as well as customer error, the hidden economy, criminal attacks and where tax cannot be collected because businesses have become insolvent’.
Full story: http://www.accountancylive.com/croner/jsp/Editorial.do?channelId=-601043&contentId=2312910