HMRC published its preliminary estimate of the UK’s 2014/15 VAT gap on Wednesday, showing its initial estimate of the VAT gap as 10.4% (£13.0bn), down from 11.1% (£13.1bn) in 2013/14. The VAT gap is the difference between the amount of VAT that should, in theory, be collected by HMRC, against what is actually collected. See www.bit.ly/1LB0RLz.
HMRC published its preliminary estimate of the UK’s 2014/15 VAT gap on Wednesday, showing its initial estimate of the VAT gap as 10.4% (£13.0bn), down from 11.1% (£13.1bn) in 2013/14. The VAT gap is the difference between the amount of VAT that should, in theory, be collected by HMRC, against what is actually collected. See www.bit.ly/1LB0RLz.
