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Reviewing HMRC’s consultation on transfer pricing reform

Bezhan Salehy and Deep Shah (Macfarlanes) review the government’s extensive package of proposals that touch most areas of the UK’s transfer pricing, permanent establishment and diverted profits tax legislation. 

On 19 June 2023 the government published a consultation document entitled Reform of UK law in relation to transfer pricing permanent establishment and diverted profits tax which includes an extensive package of proposals that touch most areas of the UK’s transfer pricing permanent establishment (PE) and diverted profits tax (DPT) legislation. The consultation is the most significant review of the UK’s core transfer pricing legislation since the early 2000s. In this article we review the proposals and consider how they will impact businesses if they are pursued.

Transfer pricing

The section of the consultation document that deals with transfer pricing covers three areas.

Framework

The consultation advances several proposals aimed at simplifying and clarifying the...

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