The Tax Gap
Tax evasion in 2014 - and what can be done about it
This pamphlet is a summary of a new report ‘Tax Evasion in 2014 – and what can be done about it’ written for PCS, by Richard Murphy of Tax Research UK.
It makes a new estimate of the tax gap, which continues to be significantly higher than the HMRC estimate. This estimate, which is £119.4bn for financial year 2013/14, includes reductions in the estimates of tax avoidance and tax debt, but a significant increase in the estimated tax loss from evasion.
It includes significant new data and a much more comprehensive analysis of tax evasion. It shows that tax evasion is higher than previously estimated. It concludes that the government should tighten up legislation and reverse the counterproductive cuts in HM Revenue and Customs staffing.
More information can be found here: http://www.pcs.org.uk/en/news_and_events/pcs_comment/index.cfm/tax-evasion-now-at-80-billion