Taxation: Metals

Treasury written question – answered on 19th December 2013.

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Photo of Chris Kelly Chris Kelly Conservative, Dudley South

To ask the Chancellor of the Exchequer what estimate he has made of the value of cash transactions within the scrap metal industry that avoided direct and indirect taxes due to evasive record keeping in the latest year for which figures are available.

Photo of Nicky Morgan Nicky Morgan The Economic Secretary to the Treasury

There are no estimates of the value or the tax lost specifically due to cash transactions within the scrap metal industry.

HMRC published its latest available estimates of tax losses in “Measuring Tax Gaps 2013”

http://www.hmrc.gov.uk/statistics/tax-gaps/mtg-2013.pdf

The publication includes an overall estimate of evasion for 2011-12.

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