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HMRC investigating two out of three large firms

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HMRC has announced that two-thirds of the 800 biggest businesses operating in the UK are under enquiry. Jennie Granger, director general of enforcement and compliance at HMRC, told an HMRC stakeholder conference that most of the enquiries cover multiple issues.

Granger added: ‘That is not to say that most large businesses are on the make. But it does highlight both the complexity of the international tax system in which they operate and our need to be very actively scrutinising how they negotiate their way through that system.’

HMRC also said its large business strategy has generated £31bn in additional revenue over the last four years. Large businesses account for a quarter of the £34bn estimated tax gap, and contribute around 60% of UK tax receipts.