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In the UK, income tax accounts for as much as 23% of the governments total revenue. in the 2019-20 tax year alone, up to 70
In the UK, income tax accounts for as much as 23% of the governments total revenue. in the 2019-20 tax year alone, up to 70 billion of revenue was lost to tax evasion. Five hundred and forty-eight individuals were charged for tax evasion in 2019-2020.
REQUIRED:
a. With the support of relevant examples, analyse the differences between tax evasion and tax avoidance.
b. Analyse TWO recent policies introduced by the HMRC within the last five years to reduce the incidence tax evasion and avoidance in respect of income tax for individuals.
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