HMRC has “lost control” over small businesses as unpaid taxes reaches 40%.
Nearly two-thirds of uncollected revenue comes from smaller businesses. In 2023–2024, small businesses in the UK failed to pay 40% of their corporation tax due, which sparked accusations that HM Revenue & Customs had “lost control” of the industry. According to data released by HMRC on Thursday, the amount of corporation tax owed but unpaid…
