£35 billion in tax not collected

AOL Money Staff

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Businesses and individuals paid £35 billion less in tax than they should have, with more than £9 billion lost through evasion and avoidance according to the latest figures.

Official estimates indicated £11.4 billion of VAT, £15.3 billion of income tax, £4.7 billion in corporation tax and £2.5 billion excise duties was not collected in 2011/12.