Taxpayers to be ‘clobbered with large fines from HMRC’ as tax gap rises,

Following the release of tax gap data by HMRC, Adam Walkom was one of a number of experts who were asked to comment on the tax system…

Adam Walkom, the co-founder at Permanent Wealth Partners, commented how the complex nature of tax could be making this a tricky issue to solve.

“These figures show HMRC is heading in the right direction,” he said.

“But remember, we also have the opportunity to structure our financial affairs, in 100 percent legal ways, which minimises the legal amount of tax we have to pay. I am constantly amazed at the number of people who don’t do this. If governments want us to pay more tax, they should change the law, not try to persuade us with a moral obligation.”

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