HM Revenue and Customs (HMRC) has trumpeted three victories in the courts last month against complex tax avoidance schemes.
The Revenue said the decisions had potentially stopped as much as £200m being lost.
I'm obviously delighted that the Revenue is winning.
But let's remember in September 2011 they said all tax avoidance a year for income tax, national insurance and capital gains tax combined was £1.4 billion a year. And I refuse o believe they have closed down one seventh of all tax avoidance in the last month, so somewhere their figures don't stack. Either these schemes were worth much less than £200 million or the tax gap is much bigger than they say.
Of course, it may also be both. But what's not possible is that their claims are right, as I've said long and often.