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Billions lost every year from small businesses evading tax
September 9, 2024September 9, 2024by In Bussiness

Billions lost every year from small businesses evading tax

The UK is losing billions of pounds a year in revenue as tax evasion among small businesses is growing, according to a National Audit Office (NAO) report on tax evasion in retail. HM Revenue and Customs (HMRC) lost an estimated £5.5bn due to tax evasion in 2022-23, with small businesses accounting for 81 per cent...