The UK's $39 billion tax gap has left a 'financial black hole' for its already-battered economy
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The UK's tax gap, which shows the balance between the amount of tax expected and actually paid, fell to a five-year low of $39 billion in the year 2018-19, official data showed.
Although that seems like a massive number, it is actually a 15 year low in percentage terms, according to a The estimate represents 4.7% of the UK's tax liabilities, which means that the HMRC collected 94.3% of all tax due between 2018 and 2019. In the previous year, the was around 5%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the downfall of Civilized, the cannabis media startup - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
4 emotional hacks to keep you sticking to your financial plan - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Tesla short-sellers have lost $18 billion this year on the stock's 230% spike - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Electric-vehicle startup Rivian raises $2.5 billion in funding round - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
$64 billion art market embraces bitcoin, blockchain - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
JPMorgan Treasuries trading chief Rob Allen placed on leave - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »