HMRC ramps up rating system for large company tax compliance
Starting this month, HMRC is enhancing Business Risk Review with a new approach to assessing the level of tax compliance at the UK’s biggest companies, adopting a more graduated series of risk ratings which it says will encourage greater compliance.
The Business Risk Review process applies to around 2,000 of the largest corporates, and rates companies based on their behaviour and strategy in relation to tax. It was subject to a consultation during autumn 2017 and a pilot with 65 companies in the autumn of 2018.
Read more at the Accountancy Daily.