Tax evasion has to exceed £70 billion

Now I’m not saying all VAT abuse is evasion – although much is. But what I am quite sure about is that this data implies GDP may be understated by as much as 10% (although it may be a bit less) and the tax gap on that alone – all of which is evasion – could exceed conservatively £50 billion based on current GDP and total tax yields. Add to this the HMRC estimate of tax loss from all but avoidance in their own timid tax gap figures and yet again the gap from evasion must exceed £70 billion (and I do not think I am double counting VAT – I have downgraded the £50 billion to allow for this).