Tax gap between large and small businesses is widening

The video discusses public concerns about tax fairness, highlighting the disparity between individual taxpayers and multinational companies. MPs are urging action on the increasing tax gap and aggressive tax avoidance schemes. HMRC defends its efforts, claiming equal treatment of all taxpayers. A former tax inspector suggests that smaller cases are often targeted due to ease of investigation. The video also references high-profile cases like Starbucks, which have sparked ongoing debates about the fairness of the tax system.

What is the main concern of individuals regarding multinational companies and taxes?

• They feel multinationals pay less tax than they should.

• They believe multinationals should be exempt from taxes.

• They believe multinationals pay too much tax.

• They think multinationals are over-regulated.

What does the Public Accounts Committee accuse officials of failing to do?

• Increase tax rates for individuals.

• Gather intelligence on tax revenue lost through avoidance.

• Collect taxes from small businesses.

• Provide tax breaks to multinational companies.

How does HMRC respond to accusations of being lenient on large businesses?

• They claim to be equally tough on all taxpayers.

• They admit to losing their nerve.

• They agree with the accusations.

• They plan to reduce tax rates for large businesses.

What is the former tax inspector's view on tax investigations?

• They prioritize cases with no assets.

• They avoid investigating any cases.

• They target cases with potential for easy recovery.

• They focus on large corporations.

What was revealed about Starbucks' tax payments in the UK?

• They paid more taxes than required.

• They never paid any taxes in the UK.

• They reported taxable profit only once in 15 years.

• They paid taxes every year for 15 years.