The obligation on large businesses to notify HMRC about the Uncertain Tax Treatments (UTT) in their returns has applied since 1 April 2022. This article reminds readers of the criteria for notifying, including the taxes and returns within scope, how the threshold works and what exemptions are available. It also includes an analysis of the first published data on UTT and some tips and pitfalls for businesses to consider when dealing with the UTT rules and when they find they have failed to comply.
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The obligation on large businesses to notify HMRC about the Uncertain Tax Treatments (UTT) in their returns has applied since 1 April 2022. This article reminds readers of the criteria for notifying, including the taxes and returns within scope, how the threshold works and what exemptions are available. It also includes an analysis of the first published data on UTT and some tips and pitfalls for businesses to consider when dealing with the UTT rules and when they find they have failed to comply.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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