HMRC’s estimated tax gap for 2011/2012 has been stated as being £32 billion, up £1 billion from the previous year.
The tax gap is defined as the amount of tax that is due to the government that is not paid.
Tax avoidance refers to using the tax regime in a particular country to lower the amount of tax an operation must pay. One example of tax avoidance may be the film industry where certain projects are carried out in different territories.
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The taxpayer has saved around £200 million after tax avoidance schemes were shut down in court. The first case involved a Howard Schofield concerning capital gains on a £10 million gain in 2003/2004.
Schofield entered into a scheme that contrived
Wealthy people who use aggressive tax avoidance schemes will be “named and shamed” under plans by Treasury Minister David Gauke.
Companies that set up complicated tax schemes for clients could be fined if they fail to reveal those who are
HMRC is expanding its compliance programme by announcing a new taskforces that will investigate evasion in sectors and geographical areas. HMRC is expanding its compliance programme by announcing a new taskforces that will investigate evasion in sectors and geographical areas.
The degree of tax avoidance by the super rich has been revealed after figures released by the Treasury.
The findings show that nearly 1,000 British taxpayers who earn over £1 million per year are paying less than 30 percent of
Builders involved in home improvement are the latest sector of workers to be targeted by HMRC in their tax crackdown campaigns.
Previous campaigns have targeted person coaches, doctors and plumbers.
The campaigns aim to motivate people to own up about
Public sector workers will have to work longer and pay more into their pension funds if they want to continue to receive better pensions than those in the private sector, the chief secretary to the Treasury, Danny Alexander has said.…
Up to £16 billion of unpaid tax has been missed by the Treasury according to a new in depth report. More than half a million companies disappeared last year without paying any tax and in most cases not filing accounting.…
£900 million will be spent by the Treasury in an attempt to clampdown on tax evasion, chief secretary to the Treasury Danny Alexander has revealed.
In a move that seeks determined action against tax evasion, the aim is for a …