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22nd September 2011
The Chartered Institute of Taxation (CIOT) explained that recent tax gap figures indicate that more people are complying with legislation.
Gary Ashford, who represents the CIOT on the government's Compliance Reform Forum, explained that more effort needs to be put into prosecuting those who choose to evade tax.
"According to the government, tax evasion and other illegal activity are costing the Exchequer three times as much as tax avoidance," he commented.
The statistics show that £6 billion a year is being lost due to errors and carelessness from tax payers, highlighting the need for professional tax advice.
In 2009-10, the tax gap stood at 7.9 per cent of liabilities, which marked a decrease from 2008-09 when it was 8.1 per cent.
Govt tax initiatives ''taking effect''
Recent figures show the government''s tax initiatives are starting to take effect, one group has said.
The Chartered Institute of Taxation (CIOT) explained that recent tax gap figures indicate that more people are complying with legislation.
Gary Ashford, who represents the CIOT on the government's Compliance Reform Forum, explained that more effort needs to be put into prosecuting those who choose to evade tax.
"According to the government, tax evasion and other illegal activity are costing the Exchequer three times as much as tax avoidance," he commented.
The statistics show that £6 billion a year is being lost due to errors and carelessness from tax payers, highlighting the need for professional tax advice.
In 2009-10, the tax gap stood at 7.9 per cent of liabilities, which marked a decrease from 2008-09 when it was 8.1 per cent.
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