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HMRC defends tax avoidance procedures

HMRC ensures that multinationals pay the tax due in accordance with UK tax law.

We have been very successful in reducing tax avoidance by large businesses in recent years.

We relentlessly challenge those that persist in avoiding tax and have recovered £29bn additional revenues from large businesses in the last six years, including £4.1bn in the last four years from transfer pricing enquiries alone.

These figures speak for themselves.

Corporation tax receipts are dependent on the wider economy and the corporation tax rate set by Parliament, which was reduced by 2 percentage points for 2011-12.

– HMRC spokesman

Taxi Driver Protest

Taxi drivers will converge on Trafalgar Square this morning in protest over planned tax hikes on biodiesel produced with used cooking oil.

The cab drivers claim the tax increase will force many of them to go back to fossil fuels - which will lead to an increase carbon emissions.

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