By Jennifer Sieg Small business tax evasion is costing the state billions of pounds of revenue a year as “significant gaps” in the UK’s tax authority’s strategies persist, a new report has revealed. A National Audit Office (NAO) report on tax evasion has revealed that HM Revenue and Customs (HMRC) estimated a total of £5.5bn in losses from tax evasion between 2022 and 2023. Some 81 per cent of the loss was attributed tosmall businesses, a 66 per surge since 2019 to 2020. Despite HMRC’s lack of sector-specific detail, it said it has targeted campaigns at “high-risk” retailers such as sweet shop…