| Updated:
HMRC funds to fight avoidance
HMRC will receive an additional £77m to fight tax avoidance following yesterday’s announcement. There will also be new restrictions on the tax arrangements of firms that bid for government business, something that could have an adverse effect on outsourcers.
Jason Collins of law firm Pinsent Masons said: “Reading between the lines, companies will not get government work if they are employing tax mitigation strategies which HMRC does not like.”
Some of the £77m of additional HMRC money will be used to fund a crackdown on multinational firms, following recent public anger at tax arrangements of firms such as Starbucks and Amazon.