80. Which taxes will Rachel Reeves raise?
The Rest Is Money
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Understanding the UK's Tax Gap
This chapter examines the UK's substantial tax gap, estimated at £36 billion, revealing that it is not solely caused by the wealthy but often involves small businesses and individual errors. It argues for reforms in HMRC practices, suggests simplification of tax laws, and highlights the negative impact on low-income earners while advocating for better financial education. The chapter also addresses the ramifications of tax avoidance schemes, emphasizing the need for stricter penalties to combat exploitation of tax loopholes.
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