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Author: JW / / Latest News

Tax Collection Shortfall

The difference between the amount of Self-Assessment and PAYE tax due for the year and the actual amount collected by HM Revenue & Customs reached £8.5bn in 2013/14. This is an increase of almost 10% on the corresponding figure for 2012/13. This includes a shortfall from Self-Assessment tax receipts, which increase by 5% from 2012/13 to 2013/14 to reach £4.6bn. The PAYE shortfall rose by 15% to £3.9bn during the same period.

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