Archive:July 2024

You’ve probably heard a fair bit about tax so far in this General Election campaign, with many claims and counter-claims thrown around by the major parties.
How do we know what to really make of it? For seasoned political aficionados, it is familiar story at election time. Do the numbers add up? Can the country really afford the policies that have been put forward?

Well, for one leading independent voice on the economy and taxation, the Institute of Fiscal Studies, not enough has been said in the campaign about…

Whilst the main focus of the nation in terms of tax talk has all been about the General Election, some very interesting
figures have been published this month by HMRC.

Have you heard before of the phrase the ‘Tax Gap’? The stats in question surround this topic. According to the Chartered Institute of Taxation, the definition of this gap is “the
difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid.”

The new report assesses the tax gap in 2022-23. The…