Taxman recovers £12.6bn from big business

Tax investigations into big businesses recovered an extra £12.6bn over the
past four years, a 69% increase over the period, according to research from UHY
Hacker Young cited in the

The papers this morning speculate that the figures will help support Liberal
Democrat manifesto claims that billions more for the revenue can be recovered
with a crackdown on tax avoidance.

The Lib Dems want to see the introduction of a general anti avoidance
principle, or GAAP which would aim to block arrangements designed to sidestep
tax liabilities.

Overall the research suggests HMRC crackdowns raised an additional £40bn over
the period up to March 2009, but by far the most lucrative for the exchequer
were probes into big business. The overall rise was 64%.

Hacker Young is reported to have claimed that the intensity of the tax
investigations could be a factor in persuading companies to go offshore.

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