HMRC reveals surge in corporation tax gap and small business non-compliance

HMRC figures show corporation tax accounts for nearly half of Britain’s £46.8 billion tax gap (PA) - (PA Wire)

Corporation tax accounts for nearly half of Britain’s £46.8 billion tax gap amid a rise in non-compliance from small businesses, according to the latest figures from HM Revenue & Customs.

HMRC revealed the corporation tax gap – the difference between the amount of tax expected to be due and what was actually paid – made up 40% of the total UK gap in 2023-24.