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UK Tax Gap Steady at 5.1% for 2020-2021 After Pandemic Impact

June 23, 2022, 2:55 PM

The UK’s estimated missing tax revenue for 2020-2021 was 5.1% of total tax due, the same percentage as 2019-2020, Her Majesty’s Revenue and Customs said Thursday.

The tax gap—the difference between the total amount of tax expected to be paid and what is actually collected—fell by £2 billion to £32 billion in 2020-2021 compared with the previous year, according to HMRC.

The percentage rate remained unchanged because total tax due fell to £635 billion in 2020-2021 from £672 billion in 2019-2020 as a result of the pandemic’s economic impact, HMRC added.

  • The tax gap has decreased in ...