HMRC collected £15.8bn in additional tax from 2,000 business in 2024-25, which is double the £7.1bn amount from 2021-22, down to HMRC’s ‘close contact approach’ to managing tax compliance from large businesses, revealed analysis by the National Audit Office (NAO).

In 2025, the NAO said HMRC was investigating the tax affairs of around half of large businesses at any one time with a potential £52.6bn in potential taxes at stake.

Nearly half (44%) covered three business sectors, banking, telecommunications, and retail. Banking had £8.6bn tax under consideration, telecoms had £7.8bn, and retail had £7bn.

The report stated: ‘HMRC relies on close contact with large businesses to uncover many compliance risks’.

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