UK: Tax Evasion at Five-Year Low

UK: Tax Evasion at Five-Year Low

Perhaps you will be surprised by this news item – tax evasion in the UK is now at the lowest level in five years.

Despite tax evasion being a constant ‘go to’ topic for the news channels, the worst is apparently already behind us in terms of companies trying to pull one over on the taxman.

Evasion cases have fallen 16% between the previous two tax years according to the HMRC. New penalties such as being able to charge 200% of the evaded tax amount are thought to be acting as a deterrent.

Even Starbucks, which has been responsible for many of the protests for only paying UK tax once in the last fifteen years, announced it has paid £5m corporation tax and will likely pay up to £20m in the next two years.

Are you pleased by this news or do you think large corporations should go even further?

via BBC News

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