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News - 15 August 2013

Whitehall tax collection needs to be 'efficient'

The Local Government Association (LGA) have urged the government to become as "efficient" as them at collecting taxes, arguing this could make Whitehall an extra £20bn a year.

The LGA said central government was missing out on 6.75% - or £32bn - of the tax it should be collecting every year. They said that tax shortfalls amounted to £1,370 per household in England and Wales.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“Of this, £14bn was lost because of tax evasion, with tax avoidance accounting for £5bn, non-payment for £4bn and "errors" for £2bn. In contrast, councils had last year collected 97.5% of the council tax and business rates due to them.”

But an HM Revenue and Customs spokesman said: "The LGA have fundamentally misunderstood the nature of the tax gap which is not a measure of tax unpaid.

"In fact HMRC already collects 99% of all taxes and duties which are collectible from a very wide customer base of 60 million taxpayers, increasing our tax take by £1.4bn to £475.6bn in the last year alone. On average we collect £1.3bn a day for the UK."

If you are unsure and need any help and advice on Self Assessment, Corporation tax, VAT, PAYE, RTI, or you need to keep abreast of changes in legislation and how it could impinge upon your business, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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