HMRC’s investigations into the UK’s biggest businesses brought in an extra £8.6bn in tax last year, equivalent to £69 collected for every £1 spent
According to an analysis by Pinsent Masons, HMRC collected an estimated £69 worth of tax for every £1 it spent which the law firm state states is a 6,800% return on investment for the tax department. Even the most difficult of fraud cases provided a 1,500% return on investment.
HMRC’s large business directorate, the team responsible for investigating the tax affairs of the UK’s 2,000 biggest businesses with annual turnovers of more than £200m, spent an estimated £220m on compliance activities in the last financial year.