Treasury written question – answered at on 19 December 2013.
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.
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.
Yes0 people think so
No2 people think not
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The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
