UK’s missing VAT grows by £1.3 billion

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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.

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