Estimated tax gap figure remains in line with previous year

HMRC’s released figures estimate that the tax gap has held steady at 4.8% in percentage terms. In real terms, though, the tax gap increased to £36bn, an increase of £5bn from the previous year. ICAEW’s Tax Faculty looks at the key figures. HMRC published its annual data analysing the tax gap on 22 June 2023. […]

PAC makes recommendations to close the tax gap

Key issues raised in the Public Accounts Committee report on HMRC performance in 2021/22 include resourcing of compliance activity and customer service. The Public Accounts Committee (PAC) report acknowledges that tax collection is at its highest level on record at £731.1bn. However, the report also suggests that a greater focus on tackling fraud and error […]