Definition of tax strategy

Legislation was included in the Finance Act 2016 to require qualifying large businesses or qualifying groups to publish a tax strategy, in relation to UK taxation, on the internet. Approved by the Business’s Executive Board, the strategy will have to cover four areas:

• the approach of the UK group to risk management and governance arrangements in relation to UK taxation

• the attitude of the group towards tax planning (so far as affecting UK taxation)

• the level of risk in relation to UK taxation that the group is prepared to accept

• the approach of the group towards its dealings with HM Revenue and Customs (HMRC)[1]

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