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HMRC update large business tax strategy guidance

printer Mail

HMRC have revised their guidance on the requirement for large businesses to publish a tax strategy, to clarify that the turnover and balance sheet test for UK companies, and the multinational enterprise (MNE) turnover test, are mutually exclusive.

This means that, if a UK company is part of an MNE, it does not need to publish a strategy if global turnover is less than €750m, even if it personally exceeds the £200m turnover threshold that applies under the UK companies test.

Issue: 1675
Categories: News
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