According the National Audit Office, smaller businesses and criminals are responsible for 17 of the 21 biggest tax-fraud risks, with eight relating to organized crime and nine involving medium-sized, small or micro-businesses. The government spending watchdog cites the example of a small business failing to register for value-added tax, a levy on sales, as one such risk.
The NAO said reducing tax fraud was a high priority for the UK tax authority and called for better use of its data and analysis. This report is the first in a series examining how HMRC tackles tax fraud.
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