Geoff Lloyd and John Georgiou (EY) discuss changes on the horizon, as HMRC reconsiders its approach to evaluating the risk profile of large businesses.
Why is HMRC consulting on the business risk review (BRR)?
HMRC accepts that there has been limited change to the BRR process in the last ten years and businesses have been demanding greater clarity on certain aspects of it. HMRC also views this as another opportunity to enhance the shift in the compliance behaviours of large businesses.
The broader economic context should also not be ignored. With the government reaffirming that the UK will be ‘open for business’ after Brexit the consultation recognises the part that real time HMRC support and a risk based approach to large business tax compliance can play in making the UK a good place to do business.
What is HMRC’s current process for evaluating the tax...
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:
Geoff Lloyd and John Georgiou (EY) discuss changes on the horizon, as HMRC reconsiders its approach to evaluating the risk profile of large businesses.
Why is HMRC consulting on the business risk review (BRR)?
HMRC accepts that there has been limited change to the BRR process in the last ten years and businesses have been demanding greater clarity on certain aspects of it. HMRC also views this as another opportunity to enhance the shift in the compliance behaviours of large businesses.
The broader economic context should also not be ignored. With the government reaffirming that the UK will be ‘open for business’ after Brexit the consultation recognises the part that real time HMRC support and a risk based approach to large business tax compliance can play in making the UK a good place to do business.
What is HMRC’s current process for evaluating the tax...
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:
