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Foreign firms responsible for a third of underpaid tax, analysis finds
Using transfer pricing, a multinational business could pay less corporation tax in the UK by charging an inflated price for services to its division in the UK. HMRC suspects that this practice results in some large businesses artificially reducing their tax liabilities in the UK
HMRC believes that foreign-owned companies are responsible for 32% of all the underpaid tax by large businesses in the UK, making up £11.5bn from a total of £35.8bn unpaid, according to analysis from Pinsent Masons.
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