Could you benefit from the UK’s Black Economy?

The ‘black economy’ may sound like something from a Dickens novel, but in fact it refers to the black market where cash is the currency of choice and where no tax is paid. Various statistics have emerged about the thriving UK black economy over the years – apparently half of all bank notes go to fund the black market, for example. HMRC loses out to the tune of £40 billion and the overall value of the black economy is in excess of £150 billion. Some even believe it makes up around 10% of the UK s economy as a whole. So, what is the black economy and how can you (legally) use it to your advantage? What is the UK black economy? There is no set definition of what constitutes the black economy in the UK. However, it is basically a market where everything is being bought and sold outside of legal channels. So, no VAT is being paid and anyone earning money for services is not declaring that money as income. The darkest elements of the UK black economy might encompass drug dealing or


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