The Treasury suspects that large companies have underpaid their taxes to HMRC by a whopping £24.8bn which is an increase of 13 per cent from 2016’s figures.
Philip Hammond the chancellor of the exchequer said in November, last year that by 2022 the government will raise £2bn in tax avoidance, HMRC has been under pressure by the Treasury get more taxes.
Pinsent Mason’s partner, Heather Self said: “Another £3bn rise in the tax HMRC is querying shows that HMRC is broadening its horizons and putting a far wider range of transactions under scrutiny.”
We are seeing an increasing number of challenges to arrangements that would previously have been regarded as routine and perfectly acceptable.”
Self added: “However, HMRC is putting the affairs of more and more companies under the microscope as a result, increasing the costs for those businesses.
“At the same time, many of the largest businesses are struggling with HMRC’s customer relationship manager system and finding it more difficult to get uncertainties resolved in real time.”
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