MPs to scrutinise tax system for destination of lost VAT billions

Written by Adam Cadle
27/03/2018

MPs are set to scrutinise the VAT system to examine why the tax man is failing to collect billions as part of a trio of investigations launched by the Treasury Select Committee.

Today, the committee, headed by former Conservative cabinet member Nicky Morgan, will investigate the so-called tax gap, with HMRC collecting less value-added tax than it estimates it should.

According to latest figures, in the 2015-16 tax year as much as £12.6bn was not collected.

The committee is to also look into the possibilities for changing the VAT system after Brexit.

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