How do you know it’s right?

Managing tax risks goes well beyond the annual return process. For the management of HMRC disputes, understanding risk controls is vital. Systems and processes underpin all business tax compliance, but what is acceptable for an entrepreneurial trader may not be enough for a large cross border group.

Having a documented tax risk review has been a legal requirement for some businesses since 2017, and can also be a useful approach when resolving HMRC challenges. Implementing and maintaining appropriate checks and controls will also help mitigate both the risk of fines and the costs of remediation.

The business that can demonstrate the care it takes to get things right, will be the one that avoids having to litigate a tax dispute.