HMRC Reveals Surge in Corporation Tax Gap and Small Business Non-Compliance

HMRC reveals surge in corporation tax gap and small business non-compliance

The corporation tax gap jumped to 15.8% – its highest for more than a decade – in the year to April 2024.Corporation tax accounts for nearly hal ...

HMRC AI and tech to support plan to collect extra £500m tax from most wealthy

Senior leaders have appeared before MPs to outline plans to make more and better use of tech, as well as equipping an enlarged team of expert officials with improved data HM Revenue and Customs is to invest in technology, data systems and artificial intelligence to support plans to collect more than half a billion pounds in tax from the UK’s wealthiest individuals in the next few years. In a recent evidence session appearing before parliament’s …

Corporation tax non-compliance fuels widening UK tax gap - Business Link Magazine

Corporation tax non-compliance has become the dominant factor in the UK’s growing tax gap, accounting for 40% of the £46.8 billion shortfall in 2023–24, according to new HMRC figures.

HMRC data show stealth taxes still doing the heavy lifting

HMRC reveals surge in corporation tax gap and small business non-compliance - Jersey Evening Post

Corporation tax accounts for nearly half of Britain’s £46.8 billion tax gap amid a rise in non-compliance from small businesses, according to the latest figures from HM Revenue & Customs. HMRC revealed the corporation tax gap – the difference between the amount of tax expected to be due and what was actually paid – made up 40% of the total UK gap in 2023-24. The corporation tax gap jumped to 15.8% – its highest for more than a decade – in the ye…