Serious cases of tax evasion 'have plunged in two years'
Fears over the current level of tax evasion and its effect on the economy are overblown, the UK law firm Pinsent Masons has claimed, as new analysis shows the number of serious cases being investigated by HM Revenue & Customs (HMRC) has plummeted over the last two years.
Just 2,888 suspected serious cases of tax evasion were identified by HMRC in the last tax year, Pinsent Masons says. That is 16 per cent lower than the year before, when 3,456 suspected cases were pinpointed, and more than a third lower than 2010-11, when the number was 4,506.
HMRC defines a case as serious if it could result in prosecution or if the tax believed to have been evaded totals £50,000 or above.
The figures come days after G8 leaders agreed new measures to clamp down on tax evasion which, unlike tax avoidance, is illegal. The communiqué from last week's summit in Northern Ireland said authorities "across the world should automatically share information to fight the scourge of tax evasion".
Claiming that some "of the speculation about tax evasion is a little over the top", Phil Berwick, a partner at Pinsent Masons, said: "This decline in suspected tax evasion doesn't tally with the rhetoric from some quarters that the British economy is being undermined by a chronic under-collection of tax revenues."
- 1 Paul Scholes: Manchester City were so good against Liverpool I felt like turning the television off
- 2 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 3 Pamela Anderson rejects ice bucket challenge because of ALS experiments on animals: 'Mice had holes drilled into their skulls'
- 4 Homer Simpson takes the ALS ice bucket challenge because of course he does
- 5 Hello Kitty is not a cat after all
America’s new apartheid: Prosperous white districts are choosing to break away from black cities and go it alone
Arizona shooting: Gun instructor accidentally killed by nine-year-old girl with Uzi
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
Hello Kitty is not a cat after all
Exclusive: We share blame for creating 'jihad generation', says Muslim strategist
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
- < Previous
- Next >
iJobs Money & Business
Highly Competitive Salary: Austen Lloyd: CITY - An excellent new instruction w...
£500 per day: Harrington Starr: SQL Server Developer SQL, PHP, C#, Real Time,...
£600 per day: Harrington Starr: C#.NET Developer C#, Win Forms, WPF, WCF, MVVM...