UK Government releases notification of uncertain tax treatments draft guidance

As outlined by Kevin Elliot, HMRC guidance on uncertain tax treatment notification for large businesses gives further details, including notification contents.

Her Majesty's Revenue and Customs (HMRC) in the United Kingdom (UK) has now published draft guidance in relation to a new requirement for large businesses (broadly companies and partnerships with UK turnover greater than £200 million (AUD406 million) per annum or a UK balance sheet total over £2 billion (AUD4 billion)) to notify HMRC where they have adopted an uncertain tax treatment (UTT) in corporation tax, VAT or income tax returns filed on or after 1 April 2022. Draft legislation for the...

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Authors: Kevin Elliott

Published Date: 01 September 2021