Every year, HMRC publishes an annual report on the estimated UK tax gap the shortfall between the tax estimated due from that which is eventually collected.
For the tax year ending April 2015, the latest figures available and published towards the end of 2016, some £36bn of estimated tax revenue remained uncollected. Standing at six per cent of all potential revenue, this is considered a success with the tax gap at its smallest since comparative analysis began.
Since 2010, £1.8bn has been invested in HMRC compliance capabilities and a similar sum is being spent on updating IT collection and data systems, resulting from the governments commitment to crack down on tax avoidance. It has been a successful strategy.
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Read the full article at: http://realbusiness.co.uk/accounts-and-tax/2017/02/27/hmrc-cracks-down-sme-directors/
