Record yield from big business tax investigations

HMRC investigations into VAT avoidance by the UK’s largest businesses have resulted in record extra tax income over the past year, according to law firm Pinsent Masons.

It said that investigations by HMRC’s Large Business Service into VAT arrangements of the UK’s 770 biggest businesses raised £1.44bn in 2012/13, an 18% increase on the £1.23bn from the previous year, and more than treble the £443 million in 2009/10.

The Revenue's Large Business Service investigates the tax affairs of the UK’s biggest businesses. HMRC has been under...

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