Large businesses is very happy with the UK's tax system and sees the benefits it offers as a key reason for doing business here, a study commissioned by HM Revenue & Customs has found.

Interviews with more than 650 large businesses found that 88% of the companies felt the UK was a good place to do business and that tax was a significant reason for that view. Only 7% said the UK was not a good place to do business, citing tax as a significant factor.

The findings will be a major boost for HMRC, which has made a concerted effort to improve its relationship large businesses through the Varney Review.

The survey also found that 68% of the large businesses interviewed were satisfied with HMRC's service levels and that one in five had seen an improvement in HMRC's service over the last year.

The study did, however, find areas in need of improvement, with the vast majority of business calling for HMRC to take commercial needs and into account, provide certainty in tax affairs, deal with businesses consistently, seek a co-operative relationship with business and be 'a joined-up organisation'.

Further reading:

Read the full research results here

Corporate tax clearance pilots go live