Tax

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Tax | Tax gap remains 6% or £34bn

Latest HMRC figures suggest the ‘tax gap’ - the difference between the amount of tax that should, in theory, be collected by HMRC, and what is actually collected – has remained largely unchanged and is estimated at £34bn in 2015-16, or 6% of total theoretical tax liabilities

Tax | Transfer pricing challenges up by 51%

There has been a 51% increase in the amount of tax that HMRC believes may potentially have been underpaid by large companies through transfer pricing, with the total amount challenged now standing at £5.8bn, up from £3.8bn in 2015/16, according to research by Pinsent Masons
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