The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The senior accounting officer (SAO) regime was introduced by FA 2009 with the aim of ensuring that qualifying companies have adequate systems in place so that the correct tax liabilities are reported to HMRC. The SAO regime covers a range of taxes and duties.
The SAO regime is clearly linked to HMRC’s Business Risk Review process for large businesses. Groups that are able to sign a 'clean' SAO certificate, and are able to demonstrate to their HMRC customer relationship manager (CRM) the basis upon which that conclusion was reached, are more likely to be regarded by HMRC as representing a reduced risk when it considers the group’s governance and ability to pay the right tax at the right time.
This note should be read in conjunction with the following guidance notes:
The SAO provisions apply to the tax accounting arrangements in operation to ensure the correct liabilities are returned to HMRC for:
FA 2009, Sch 46, paras 16, 14(3); SAOG10300
The following duties and taxes are excluded from the regime:
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