Overseas companies underpaid £19bn in UK tax

US companies failed to pay £8.8bn in tax last year, up 57%, while tax compliance by other overseas companies soared

Figures from HMRC showed that US companies accounted for almost half of all underpaid tax by foreign companies in 2023-24, underpaying £8.8bn in tax in 2023-24, up from £5.6bn just one year earlier, revealed a freedom of information request by UHY.

But it is not only US companies that are failing to pay tax in the UK, for whatever reason.

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