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Mind the (tax) gap – Why HMRC may have SMEs in its sights | Accountants in Sutton Coldfield
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Mind the (tax) gap – Why HMRC may have SMEs in its sights | Accountants in Sutton Coldfield
The tax gap, the difference between the amount of tax owed and collected, has long been a thorn in HM Revenue and Customs’ (HMRC’s) side. HMRC believe that last year, a total of £46.8 billion of tax was left uncollected, which equates to just over five per cent of the overall tax owed in the country. Once again, SMEs have been identified as the largest contributors to the tax gap and inevitably are once again in the sights of the tax authority. …
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