HMRC has updated its guidance HMRC’s compliance approach for large business to add new sections on the compliance risk management framework, business risk reviews and large business consultation forums. A business risk review is a risk assessment that takes place between business and HMRC. Conducted by the customer compliance manager, the purpose of the review is to:
agree the overall risk rating and risk status of the business;
decide on any action needed to reduce the risk rating; and
decide how much resource and scrutiny the business needs.
HMRC has updated its guidance HMRC’s compliance approach for large business to add new sections on the compliance risk management framework, business risk reviews and large business consultation forums. A business risk review is a risk assessment that takes place between business and HMRC. Conducted by the customer compliance manager, the purpose of the review is to:
agree the overall risk rating and risk status of the business;
decide on any action needed to reduce the risk rating; and
decide how much resource and scrutiny the business needs.
