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The tax gap estimate, which is due to be published next week, is so important.
KEY POINTS:
- Latest estimate of the tax gap will be published this month.
- Methods used to measure the gap between liability and tax collected.
- Benefits of a transparent approach to measurement.
- Statistics should improve public perception.
HMRC will publish the annual estimate of the UK’s tax gap on 22 October to cover 2013/14. We are rightly proud of the methods we use to arrive at the figures and our record on transparency.
In this article I will give an overview of how and why we measure the tax gap and how we became a world-leader in this field regularly approached by countries to share best practice in tax gap estimation.
Starting with the basics the tax gap is the difference between the tax that should be collected and what...
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