by Simon Watkins | Jan 23, 2025
HMRC’s offshore tax gap estimate labelled “implausibly low” Concerns raised about lack of strategy for reducing the tax gap despite additional resources Questions over fall in criminal prosecutions and potential deterrent effect A political scuffle has erupted over...
by Claire Aston | Oct 24, 2024
£300 million tax lost to non compliance by UK resident individuals on offshore accounts in 2018-19 This figure appears to be a gross underestimate, definitely excluding any assets held through companies, and the treatment of assets within trusts isn’t clear...
by Claire Aston | Jun 20, 2024
Nearly £40bn of tax revenues go uncollected in 2022-23 – £4bn more than prior year Non-compliance estimated at 4.8% of all tax owed. 2021-22’s percentage has been revised up from 4.8% to 5.2% Major reasons for the jump are: Behaviours: Higher non-payment/tax debt, now...
by Claire Aston | May 15, 2024
Multiple delays to the publication of the offshore tax gap statistics, now a full year late TaxWatch had to use FOI powers to discover that the new date for this work is now June 2024 (gov.uk still shows Autumn 2023) Data on which this will be based is from CRS...
by Claire Aston | May 14, 2024
What should we learn from multinationals about how to tax billionaires? A tax gap long readHMRC wants to offer the wealthiest taxpayers a dedicated tax ‘concierge’ service to help them pay their due taxes. It argues that this individualised and cooperative...
