HMRC: drawing up a hit list
In Greece, around 27% of the economy is what the authorities like to call “untaxed” and the rest of us call “black”. In Germany that number is 16% and in Britain it is thought to be around 12.5% – guessing the size of something that is illegal is obviously an imprecise science.
You might be surprised to think it is even that high, but run through your close friends in your head. Do they pay all the VAT on their home improvements? Do they take cash for freelance work? Do they rent out one house and live in another? Or do they perhaps have a little place in the sun that they let to holidaymakers? Or one that they sold sometime ago without paying capital gains tax in Britain?
The odds are almost everyone you know isn’t paying quite all they should. This isn’t always because they want to cheat the taxman (and the rest of us) out of our fair share. It’s also abo
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