The Tax Gap
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OFFICIALsourceUNOFFICIALsourcesources
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42 bntax gap -the difference between tax collected and tax that should in theory or in law be collected.Guardian102 bnhttp://www.taxresearch.org.uk/Blog/http://www.guardian.co.uk/society/2010/sep/17/liberal-democrats-clampdown-tax-avoidancehttp://www.hmrc.gov.uk/stats/measuring-tax-gaps.pdf
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5.8Inaccurate self-assessment returns from individualsHMRC
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0.8inaccurate self-assessment returns from large partnershipsHMRC
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1.2Inaccurate returns from small and medium businessesHMRC
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2inaccurate self-asssessment returns from large businessesHMRChttp://www.telegraph.co.uk/finance/personalfinance/capital-gains-tax/7833341/CGT-Cameron-says-1bn-lost-due-to-tax-avoidance.html
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1.4tax avoidance by individuals & businessesHMRChttp://www.guardian.co.uk/business/2010/mar/25/budget-2010-tax-avoidance
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0.3non-declaration of incomeHMRChttp://www.taxresearch.org.uk/Blog/2008/02/01/25-billion-the-cost-of-tax-avoidance/
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3.2Undeclared personal earnings & hidden cash economyHMRChttp://www.taxresearch.org.uk/Blog/2008/02/01/25-billion-the-cost-of-tax-avoidance/
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http://www.taxresearch.org.uk/Blog/2008/02/01/25-billion-the-cost-of-tax-avoidance/
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6.9missing Corporation TaxHMRChttp://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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http://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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0.1Inheritance TaxHMRChttp://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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0.8Stamp DutiesHMRChttp://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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0.2Petroleum Revenue TaxHMRChttp://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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http://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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2illegal cigarette & spirits marketHMRC
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0.7illegal diesel marketHMRChttp://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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15.2VAT gapHMRC
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0.9other indirect taxesHMRC
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1lost to personal tax avoidance using capital gains taxDaily Telegrah
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0.8lost to overseas tax havensGuardianhttp://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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3.2Income Shifting - moving income to spouses or private companies
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3Domicile tax Avoidancehttp://www.taxresearch.org.uk/Blog/
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12.1Corporate Tax Avoidancehttp://www.taxresearch.org.uk/Blog/http://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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1.1Capital Gains shiftinghttp://www.taxresearch.org.uk/Blog/http://www.hmrc.gov.uk/stats/measuring-tax-gaps-2010.htm.pdf
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http://www.taxresearch.org.uk/Blog/
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1.8National Insurance avoidancehttp://www.taxresearch.org.uk/Blog/
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3Other tax planning e.g. Inheritance taxes, stamp duty etc. http://www.taxresearch.org.uk/Blog/
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35Based on 37% tax not paid on the World Bank-estimated £197bn shadow economyhttp://www.taxresearch.org.uk/Blog/2010/08/05/the-uk-shadow-economy-proving-the-tax-gap-is-as-big-as-i-claimed/
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41.5TOTAL61
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IN CONTEXT
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3.5reaped by banks in overdraft feesBBC Newshttp://news.bbc.co.uk/2/hi/7364422.stmhttp://news.bbc.co.uk/2/hi/7364422.stm
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2Bank Levyour researchhttps://spreadsheets.google.com/ccc?key=0Ah8UkI7xG7eWdDJfM2gyZDVaSlJ3dHZzR1JJWF9tekE&hl=en_GB#gid=4https://spreadsheets.google.com/ccc?key=0Ah8UkI7xG7eWdDJfM2gyZDVaSlJ3dHZzR1JJWF9tekE&hl=en_GB#gid=4
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2.7cost of winter fuel paymentsGuardianhttp://www.guardian.co.uk/uk/feedarticle/9224614http://www.guardian.co.uk/uk/feedarticle/9224614
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1.5lost to tax credit fraudGuardianhttp://www.guardian.co.uk/politics/2008/jul/14/taxandspending.welfare
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3.1benefit fraud and errorGuardianhttp://www.guardian.co.uk/politics/2010/aug/10/david-cameron-benefit-fraud-clampdown
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1.6benefit system errorGuardianhttp://www.guardian.co.uk/politics/2010/aug/10/david-cameron-benefit-fraud-clampdown
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tax gap