Tax avoidance by multinational companies has been roundly ignored while the government pursues small businesses and individuals, a committee of MPs claimed yesterday.

A report published by the public accounts committee (PAC) criticised the government's lack of action over tackling "aggressive" tax avoidance and chasing down multinationals.

HM Revenue and Customs (HMRC) brought in £475.6 billion in revenue for the government in 2012/13 - an increase of £1.4bn or 0.3 per cent in cash terms over the previous year, the report found.