The cost of tax fraud in the UK: £15bn

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The National Fraud Authority (NFA) has published a report that reveals tax fraud is the highest individual public sector fraud loss area with an estimated £15bn lost each year.

While fraud losses are difficult to estimate, the latest NFA figures - which are up by almost a third compared to last year’s data - make for interesting reading.

The £15bn public sector tax fraud figure breaks down as follows:

  • evasion - £7bn
  • criminal attacks - £5bn
  • hidden economy - £3bn

Tax evasion is by far the largest problem area at £7bn a year - a figure that overshadows the £1.5bn of benefit and tax credits fraud, which together are estimated at £1.5bn a year.

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About Robert Lovell

Business and finance journalist

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