HM Revenue & Customs (HMRC) has announced that the tax collection gap for the 2010-11 financial year has fallen to 6.7 per cent, compared to 7.1 per cent the year before.
This compares favourably to other nations, including the US, Sweden and Mexico which each has worse tax gaps.
Exchequer Secretary, David Gauke MP has said “Every pound of tax that is not collected puts a greater burden on honest taxpayers and public services, so the government and HMRC will continue to work together to make it harder for individuals and businesses not to pay the taxes that are due,”
“We are determined to reduce the tax gap and have made £917 million available to help HMRC tackle avoidance and evasion.”
Considering a career in tax? Visit the Graduate Tax Careers page for information, advice and the latest graduate tax jobs