Tough Love

Having discovered last month that the sensibilities of corporate tax dodgers are far too delicate for mere wheedling to have much effect, Her Majesty's Revenue and Customs is set to impose a rigorous new régime of petting and pandering. Multinational companies will face maximum fines of £22,140 for failing to declare their corporation tax records, and maximum fines of £3000 for filing inaccurate returns. The new rules will apply only to companies with an annual turnover of more than £585 million, which are doubtless the most emotionally vulnerable; and the information will be kept confidential so that nobody's feelings are hurt. It is as yet unclear whether these measures are rigorous enough to suit the likes of Starbucks, Amazon and Vodafone, or whether they would prefer the Goldman Sachs treatment whereby Her Majesty's Revenue and Customs also gives them a little present now and then.