The report, based on the latest estimates from Customs & Excise, puts the annual loss to the Treasury in unpaid VAT through evasion, avoidance or error at between £7.1bn and 10.2bn a year. In addition to this it is thought that a further £7.1bn is lost annually through unpaid duty on alcohol, tobacco and hydrocarbon oils.
The latest figures are over twice as much as an estimate made by the NAO in February.
The public spending watchdog did however say Customs had changed the way it managed the collection of revenue, to ensure the right amount was being paid – during 2001/2002 the government department identified £2.5bn of net underpayments, 5% more than last year.
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay