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Billions lost every year from small businesses evading tax

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...