- UK’s value-added tax gap reached £9.5 billion in 2023-2024
- HM Revenue and Customs estimated unclaimed theoretical VAT liability at 5.3%
- The VAT gap is the difference between expected and collected VAT revenues
- The preliminary estimate did not provide reasons for the gap
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
