As the famous saying goes, there are only 2 things that are certain in life, and one of those is taxes.
Tax is something everyone who earns enough is expected to pay. However, tax fraud in the UK cost the Government over £15 billion in lost taxes in 2019-2020.
This article is going to examine the difference between tax avoidance and tax evasion and the associated penalties.
Tax avoidance means finding ways to exploit the system to reduce the tax you owe.
It involves operating within the letter, but not the... more