Comments on: The UK Tax Gap exceeds £80 billion http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/ Richard Murphy on tax and corporate accountability Thu, 08 Jan 2009 01:39:33 +0000 http://wordpress.org/?v=2.6 By: Tax Research UK / Why spend much on benefit fraud when tax is the issue? http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/#comment-359290 Tax Research UK / Why spend much on benefit fraud when tax is the issue? Wed, 23 Jan 2008 11:21:18 +0000 http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-%c2%a380-billion/#comment-359290 [...] know there is a substantial tax gap though (and I will publish more on this soon - but take this for starters). So where would the £106 million of resource have been better spent? On benefit fraud or tax [...] [...] know there is a substantial tax gap though (and I will publish more on this soon - but take this for starters). So where would the £106 million of resource have been better spent? On benefit fraud or tax [...]

]]> By: alastair http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/#comment-210893 alastair Wed, 10 Oct 2007 16:38:09 +0000 http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-%c2%a380-billion/#comment-210893 With my economist hat on it might be interesting to speculate how much of it you could actually collect? As I don't think it is a zero sum game, even assuming the Revenue is capable of improving. The informal economy will always shift around, but in any case I wonder how much Darling has lost from giving up a chunk of CGT on buy to lets? Much more interesting to speculate on how long he will last in the job after the hash he has just made. With my economist hat on it might be interesting to speculate how much of it you could actually collect? As I don’t think it is a zero sum game, even assuming the Revenue is capable of improving. The informal economy will always shift around, but in any case I wonder how much Darling has lost from giving up a chunk of CGT on buy to lets?

Much more interesting to speculate on how long he will last in the job after the hash he has just made.

]]> By: Carol Wilcox http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/#comment-210861 Carol Wilcox Wed, 10 Oct 2007 16:05:14 +0000 http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-%c2%a380-billion/#comment-210861 Amazing to me that the most unavoidable tax of all is never considered: an annual land value tax. You can't hide land in a tax haven. Considering the current value of property, of which a significant proportion is land/site value, the revenue potential is enormous. It's the only tax that can also effectively redistribute wealth and correct market failure. The land market is the most dysfunctional important market. Amazing to me that the most unavoidable tax of all is never considered: an annual land value tax. You can’t hide land in a tax haven. Considering the current value of property, of which a significant proportion is land/site value, the revenue potential is enormous. It’s the only tax that can also effectively redistribute wealth and correct market failure. The land market is the most dysfunctional important market.

]]> By: Tax Research LLP http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/#comment-210823 Tax Research LLP Wed, 10 Oct 2007 14:28:20 +0000 http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-%c2%a380-billion/#comment-210823 Alastair How about a target for the Revenue? Without one how can we assess their effectiveness in tackling the Tax Gap? Richard Alastair

How about a target for the Revenue?

Without one how can we assess their effectiveness in tackling the Tax Gap?

Richard

]]> By: alastair http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/#comment-210822 alastair Wed, 10 Oct 2007 14:25:19 +0000 http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-%c2%a380-billion/#comment-210822 this is a sobering analysis, but it I wonder to what practical use it can be put? this is a sobering analysis, but it I wonder to what practical use it can be put?

]]> By: roger rabbit http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-80-billion/#comment-210821 roger rabbit Wed, 10 Oct 2007 14:25:17 +0000 http://www.taxresearch.org.uk/Blog/2007/10/10/the-uk-tax-gap-exceeds-%c2%a380-billion/#comment-210821 Let's see if we can get to 100m Richard! The figures above cover taxes not collected, so do not include money paid out to fraudsters and non-fraudsters by HMRC incorrectly - principally VAT, but on income tax credit claims, corporation and income tax incentive claims etc. I reckon that would get us up to approaching 90m... Let’s see if we can get to 100m Richard!

The figures above cover taxes not collected, so do not include money paid out to fraudsters and non-fraudsters by HMRC incorrectly - principally VAT, but on income tax credit claims, corporation and income tax incentive claims etc. I reckon that would get us up to approaching 90m…

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