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Tax gap fell to an all time low of 6% in 2015-16 1 November 2017
The difference between the tax due and that collected by HMRC - known as the ‘tax gap’ - fell to a record low of 6% in 2015-2016, official statistics reveal .
The UK is a world leader on tax compliance, with one of the lowest tax gaps in the world and sets an international example on tax transparency, being the only country to measure and publish tax gaps every year covering both direct and indirect taxes.
If the tax gap had remained at the 2005 to 2006 level of 7.9%, it would have grown to £46 billion and the country would have been nearly £12 billion a year poorer.
The tax gap fall follows the introduction of 75 measures over the last seven years to reduce tax avoidance, evasion and non-compliance, including:
Cracking down on avoidance by multinationals to ensure companies pay the right amount of tax under UK law Introducing tough new criminal offences that make it easier to prosecute both evaders and companies that fail to prevent evasion, as well as significantly increasing penalties Introducing a new penalty for those who enable the use of tax avoidance schemes that are later defeated by HMRC Investing £800 million in HMRC’s compliance operations, which are expected to bring in an additional £7.2 billion in tax by 2020-21. Since 2010, HMRC has secured almost £160 billion in additional tax revenue as a result of actions to tackle tax evasion, tax avoidance, and non-compliance, including £2.8 billion from offshore tax evaders, through action both at home and abroad.
HMRC’s Measuring Tax Gaps 2017 and methodological annex documents are published here
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Employers needed to test EPAYE pages on the Business Tax Account 6 November 2017
HMRC is looking for employers to test the EPAYE pages on the Business Tax Account at a testing session on 7 November in London.
There is a testing session on Tuesday 7 November in London and HMRC is looking for 4 or 5 employers (any size) who use the Business Tax account (BTA) to view and reconcile payroll returns/payments.
The testing will take about an hour and involve logging onto your own account and explaining what you normally do on the BTA (e.g. what screens you use and the order). You will then be shown a prototype and asked to work through scenarios, where HMRC will assess how you navigate it.
We appreciate it is short notice but if you are interested in helping and available on Tuesday 7 November please email Penny Earle penny.earle@hmrc.gsi.gov.uk for further information.
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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