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    The damage caused is never ending...

    Eurobond tax scandal: Tax avoidance figure is just 'the tip of the iceberg', Margaret Hodge tells HMRC
    Public accounts committee grills tax officials over botched figures

    Senior tax officials were criticised by MPs yesterday because their estimate of £35bn lost every year in unpaid tax is just "the tip of the iceberg", as it does not include the use of legal avoidance schemes such as the one most recently reported in The Independent.

    Officials from HM Revenue and Customs were interrogated by The Committee of Public Accounts at a hearing in Westminster over its failure to claw back tax from big businesses. Margaret Hodge MP, chair of the committee, listed all the legal tax avoidance schemes used by household names that would not be included in HMRC's calculation of the tax gap and said, "at the moment, therefore, your tax gap is clearly the tip of the iceberg".

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