The Committee criticised the tax authority in a series of tweets after it was revealed that HMRC had settled the $1bn (£725m) disputed tax bill case with General Electric out of court which reportedly sees the company pay £82m ($112m) in deferred tax with the fraud allegations from HMRC dropped.

The 15-year-old dispute between General Electric and HMRC was set up due to a clash in the Supreme Court.

The tweet sent by the parliamentary group accused the tax authority of agreeing to a ‘sweetheart deal’ and that ‘deals like this one sees the taxpayer lose out on millions in lost tax revenue’.

APPG chair Margaret Hodge stated that the settlement seemed ‘pathetic’ when compared to the tax amount that HMRC accused General Electric of owing.

I