Treasury boosted by targeting big firms over tax
Many small motorsport businesses will be relieved to learn that tax investigarions into small businesses is uneconomic.
A study by law firm Pinsent Masons suggests chasing large companies over taxes is far more worthwhile than targeting small businesses and individuals. HMRC collected £107 for every £1 spent on investigations into the UK's largest 2,000 businesses last year while investigations into individuals and small businesses brought in £14 for every pound spent. Stephen Porter, a partner at Pinsent Masons, said: “For the Treasury there is no such thing as a magic money tree but the returns from investigations into large corporates are as close as it gets." The analysis also found that fraud investigations produced £19 for every pound spent.