Showing posts with label Tax Gap. Show all posts
Showing posts with label Tax Gap. Show all posts

Friday, 24 October 2014

IDS Goes After Benefit Fraudsters, But What About These 3 Bigger Costs To The Taxpayer?

Iain Duncan Smith's DWP has launched a new advertising campaign encouraging people to phone a hotline if they suspect somebody they know is fraudulently claiming benefits. The government estimates that £1.1 billion is lost a year due to benefit fraud. However, there are three other issues that, from the government's own figures, are bigger problems;
·         The tax gap, charting the estimated amount of taxes unpaid thanks to evasion, avoidance, error and criminality, soared to £34 billion
·         £1.4 billion in benefit overpayments, an increase of nearly 6%
·         Unclaimed tax credits, with childless families missing out on £2.3 billion worth.

Read more on the Huffington Post website.