HMRC’s tax investigations into the UK’s largest businesses now last an average of 45 months according to research by Pinsent Masons with around half of the approximately 2 000 largest businesses covered by HMRC’s ‘Large Business Service’ in the UK being formally investigated by HMRC at any one time. Large businesses are defined by HMRC as those with an annual turnover of £200m.
Bryn Reynolds Partner at Pinsent Masons says: ‘The government has pledged additional funding to HMRC to recruit more tax officers aiming to improve tax collection and reduce unpaid liabilities. However there are concerns over whether increasing resources will actually lead to faster resolutions given HMRC’s internal delays and cautiousness about closing cases.
‘The increase from 6 April 2025 in the interest rate for late payments to 8.5% the highest since December 2007 means that the consequence of long...
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HMRC’s tax investigations into the UK’s largest businesses now last an average of 45 months according to research by Pinsent Masons with around half of the approximately 2 000 largest businesses covered by HMRC’s ‘Large Business Service’ in the UK being formally investigated by HMRC at any one time. Large businesses are defined by HMRC as those with an annual turnover of £200m.
Bryn Reynolds Partner at Pinsent Masons says: ‘The government has pledged additional funding to HMRC to recruit more tax officers aiming to improve tax collection and reduce unpaid liabilities. However there are concerns over whether increasing resources will actually lead to faster resolutions given HMRC’s internal delays and cautiousness about closing cases.
‘The increase from 6 April 2025 in the interest rate for late payments to 8.5% the highest since December 2007 means that the consequence of long...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
