Government teams set up to reduce the ‘black economy’ only produced an extra
£29m last year, the Daily Telegraph reports today.
The 11 regionally based Shadow Economy Teams and the Joint Shadow Economy
Teams resulted in just over 3,300 businesses being brought into the tax-paying
net, generating £26.4m. They also identified 229 ‘ghost” businesses, which
yielded £2.7m, the paper says.
HM Revenue & Customs rejected suggestions that the returns were modest.
A Customs spokesman said: ‘We get a good return on our investment. We recover
£16 for every £1 we spend.’
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states