And soon to becoming after you.
https://www.theguardian.com/business...x-gap-estimate
HMRC was accused on Thursday of underestimating the tax gap – the difference between the expected income for the exchequer and actual receipts – after official figures showed it was unchanged during the first year of the pandemic.
The Revenue said there was a 5.1% shortfall worth £32bn in the 2020-21 financial year, the same as the period before the pandemic took effect. It said fraud accounted for £2bn of the total – despite widespread concerns that tens of billions of pounds in government pandemic spending was lost to fraud.
Richard Murphy, a tax expert, said the assessment of tax losses to the exchequer was “half-hearted” and a more comprehensive review would probably have found losses from the hidden economy were much higher. “The report found there was virtually no money that went missing during the pandemic. That cannot be an accurate reading of the situation,” he said.
https://www.theguardian.com/business...x-gap-estimate
HMRC was accused on Thursday of underestimating the tax gap – the difference between the expected income for the exchequer and actual receipts – after official figures showed it was unchanged during the first year of the pandemic.
The Revenue said there was a 5.1% shortfall worth £32bn in the 2020-21 financial year, the same as the period before the pandemic took effect. It said fraud accounted for £2bn of the total – despite widespread concerns that tens of billions of pounds in government pandemic spending was lost to fraud.
Richard Murphy, a tax expert, said the assessment of tax losses to the exchequer was “half-hearted” and a more comprehensive review would probably have found losses from the hidden economy were much higher. “The report found there was virtually no money that went missing during the pandemic. That cannot be an accurate reading of the situation,” he said.
