The HMRC Public Accounts Committee has been attacked by a committee of MPs for the way they have allowed some big businesses to settle their tax bills.

The Public Accounts Committee aired “serious concerns” about how some large settlements had been concluded.

Around £25 billion of tax from large companies is outstanding, the MPs believe. They also want HMRC to be more transparent with its dealings with big business.

This follows a high profile case when Goldman Sachs underpaid tax on bonus payments of £20 million. It has also been suggested that Vodafone paid nearly £5 billion less than it should have done.

The chair of the Committee Margaret Hodge MP said: “Big companies have very expensive advisors, consultants and lawyers. HMRC, on their own admittance, has very few people who have deep knowledge of tax affairs.

She added: It’s imperative everyone is treated equally in front of the law.”

However, HMRC have hit back, saying the MPs misunderstood the facts.

A spokesman said: “The report is based on partial, inaccurate opinion and some misunderstanding of the facts.”