The political parties have stated their plans to clamp down on taxing the wealth and setting in place extra regulations to stop tax avoidance. But why does this need to happen, how common is tax avoidance in the UK?

Tax Avoidance and Evasion Statistics

There is a £4.6 billion tax gap which is due to tax avoidance meaning that taxes are lower what they should be from people and corporations committing tax fraud and avoidance.

Around £70billion of revenue has been lost to tax evasion overall in the UK.

https://www.finance-monthly.com/2024/06/is-tax-avoidance-a-big-problem-in-the-uk/