Parliamentary Search

Written question asked by Baroness Alexander of Cleveden (Labour) on Tuesday, 8 July 2025, in the House of Lords. It was due for an answer on Tuesday, 22 July 2025. It was answered by Lord Livermore (Labour) on Tuesday, 15 July 2025 on behalf of the Treasury.

Wealth: Taxation

Question

To ask His Majesty's Government when they expect to publish updated estimates of the wealthy tax gap which is the difference between the amount of tax that should be paid by wealthy individuals and what is actually paid.

Answer

HM Revenue and Customs (HMRC) estimates the size of the tax gap, which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. The tax gap statistics are published annually, most recently on 19 June 2025, with the next release planned for June 2026. [1]

The latest estimate of the wealthy customer group tax gap was £2.1 billion for the tax year 2023 to 2024. [2]

[1] The latest estimates include tax years from 2005 to 2006 through to 2023 to 2024 and are available at: https://www.gov.uk/government/statistics/measuring-tax-gaps.

[2] Historical estimates for the tax gap for wealthy customers can be found in table 1.4 here: https://www.gov.uk/government/statistics/measuring-tax-gaps-tables

Secondary information

Type
Written question
Reference
HL9209
Session
2024-26
Subjects
Taxation Wealth
Contains statistics
Yes
Link
View this Written question on www.parliament.uk