Tax system flaws cost UK £40bn a year
"Loopholes, evasion and other flaws in the tax system are costing the country about £40bn in revenue a year, according to an official estimate likely to inflame arguments over how to repair Britain’s biggest ever peacetime deficit."
FT subscribers can see a more detailed breakdown here. But things have been getting better in some respects:
"The sums retrieved from reluctant or error-prone taxpayers have risen 60 per cent over the past three years, according to Revenue & Customs statistics."
and the first story added:
"Richard Murphy, a campaigner and TUC adviser, accused the Revenue of seriously underestimating the scale of the tax gap, which he believed was likely to total about £100bn. “People should be angry about it,” he said.
Read more on Murphy's analysis here.