News

UK tax gap ‘falls to £33bn’

loan charge

Recent figures from HMRC have revealed that the UK tax gap equated to 5.7% of total tax liabilities for the 2016/17 tax year.

The term refers to the difference between the amount of tax that is theoretically payable to HMRC, and the amount that is actually received.

According to HMRC’s latest ‘Measuring the Tax Gap’ report, the gap has fallen from 7.3% in 2005/6 to an estimated 5.7% in 2016/17, equating to £33bn in revenue.

The report revealed that income tax, national insurance and capital gains tax made up the largest proportion of the tax gap.

Meanwhile, taxpayer errors and failure to take reasonable care were responsible for £9.2bn of unpaid taxes.

We can help with all of your tax planning needs. Please contact us for advice and assistance.

Quick Quote

A simple, hassle free way to request a quote from AP Robinson & Co.
Simply fill in the form with your contact information and a brief description of the work you want carried out and we’ll then contact you directly - either by email, text message or a phone call for a friendly and informal chat about your requirements.

Get Quick Quote
laptop image