Companies: VAT
Commons · Question 73231 · Tabled 29 Aug 2025 · Treasury · Official record
Answered 5 Sep 2025
Question
Asked by Edward Morello
To ask the Chancellor of the Exchequer, what the projected annual loss of tax revenue is from non-VAT registered companies with turnover above the VAT threshold.
Answer
Answered by Dan Tomlinson, 5 Sep 2025
HM Revenue and Customs (HMRC) estimates the size of the tax gap, which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. The tax gap statistics and details of the estimate methodologies are pub...