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HMRC collects £3.5bn from investigations into big businesses

HMRC collects £3.5bn from investigations into big businesses’ underpaid corporation tax.

HMRC collected an extra £3.5bn in corporate tax from challenging businesses on their payments in the last tax year, according to figures from Pinsent Masons.

The £3.5bn came from investigations into underpaid corporation tax carried out by HMRC’s Large Business Directorate, which oversees the tax compliance of the 2,100 largest and most complex UK businesses.

The figure is down 13 per cent from the previous year, despite more companies coming under the operation’s remit, and represents 35 per cent of the maximum £10bn HMRC said could come from its corporation tax investigations.

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