Taxes — Not So Certain After All? HMRC Looks to Mind the Gap
By EsqSocial Corporation 26/05/21
The size of the UK's 'legal interpretation tax gap' is a matter of increasing concern to the government, so much so that it has now published its second consultation on the topic. A 'legal interpretation tax gap' arises where a tax authority (in the UK, Her Majesty's Revenue and Customs (HMRC)) and a taxpayer take a different view of the meaning of the tax law as it applies in a particular case. In the UK the gap between the amount that HMRC would expect to collect based on its interpretation of...
By: Katten Muchin Rosenman LLP