Branch2 Intelligence
Official Statistics: Discontinuation of the Preliminary Estimate and Second Estimate VAT Gap Publications
Key takeaway
UK government discontinues VAT Gap reports, reducing tax compliance transparency.
- Step 11st-order: UK government discontinues VAT Gap reports, reducing public data on tax compliance.
- Step 22nd-order: Increased information asymmetry between HMRC and businesses; SMEs face higher uncertainty in tax planning.
- Step 33rd-order: SMEs increase spending on tax advisory and compliance software to manage risk, benefiting advisory firms and software vendors.
Source: HM Revenue & Customs
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