Probes into large businesses led to a 12% increase in revenue collected by the taxman in 2018/19, with a surge in the revenue generated from VAT investigations.
HMRC data analysed by Pinsent Masons shows tax investigations into the UK’s 2,000 largest businesses generated £9.8 billion in extra revenue last year, compared with £8.7bn in 2017/18.
There was a 67% increase in the revenue generated through VAT investigations. These contributed 61% of HMRC’s total income from investigations into large businesses, compared to 41% the previous year.
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