UK's missing VAT grows by £1.3 billion

7 December 2018

According to figures released by HMRC, an estimated £13.3 billion in UK VAT revenue was lost due to non-compliance or non-collection during the year 2017/18. When compared with the same figures from 2016/17 this shows an increase of £1.3 billion.

The main factors contributing to were insolvencies, bankruptcies, fraud, administrative errors and legal tax optimisation.

LATEST NEWS

Morocco introduces VAT on e-services for non-resident...

From 14 February 2024, Morocco introduced VAT at 20% on the sale of digital services by non-resident providers to local consumers.  Previously, foreign...

SEE MORE
VAT news
LATEST NEWS

Polish Ministry of Finance issues new National...

The Polish Ministry of Finance recently announced a round of nine public consultations ahead of a newly proposed July 2025 launch date of KSeF B2B e-invoicing...

SEE MORE
VAT news
LATEST NEWS

UPDATE: Belgium confirms the introduction of mandatory...

During February 2024, the Bill legislating for mandatory B2B e-invoicing in Belgium was gazetted, confirming the introduction of an e-invoicing regime from 1...

SEE MORE
VAT news

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.