Stat of the day: £16bn

The amount the Treasury is reportedly losing as a result of unpaid corporation tax.

by Elizabeth Anderson
Last Updated: 09 Oct 2013

There's nothing like a good tax avoidance story to incense the masse, and the Guardian had a corker this morning. According to figures by Tax Research UK, British businesses managed to 'avoid' paying £16bn worth of taxes last year. The consultancy group has worked out that 536,000 businesses managed to avoid paying £30,000 worth of taxes each last year - and it's all because of regulators, who haven't been stringent enough with firms.

The Guardian points out that the losses represent 'almost half of the entire corporation tax receipts last year and would pay for many of the services under threat from Government spending cuts', while Tax Research UK insists the government needs to do more to increase transparency. Allocating some more resource to HMRC might be more useful, though…

 

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