Commentary

V5.220 Notification of uncertain tax treatment by large businesses

Part V5 Compliance, enforcement and appeals

V5.220 Notification of uncertain tax treatment by large businesses

Requirement to notify tax position

V5.220 Notification of uncertain tax treatment by large businesses

In the 2020 Spring Budget, it was announced1 that 'from April 20212 large businesses will be required to notify HMRC when they take a tax position which HMRC is likely to challenge. This policy will draw on international accounting standards which many large businesses already follow. The government will consult shortly on the detail of the notification process.' This was followed by a consultation document3 which invited comments until a closing date of 27 May 2020 (subsequently extended to 27 August 2020 as a result

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