Managing your tax strategy effectively, and understanding how HMRC investigates tax issues can help you avoid issues before they arise.

Tax risk advisory and business risk reviews

Businesses have always aimed to keep their compliance and tax controls under regular review. However, recent developments, such as the Criminal Finances Act 2017, and changes to how HMRC assesses tax risk have made this all the more important. This has resulted in businesses of all sizes prioritising and increasing the frequency of reviews to their risk management processes.

The benefit of a proactive approach is to put you on the front foot. By enhancing your governance, strategies and operations, tax risk can be a driver for new opportunities.

We will:

  • help to create a framework of corporate governance that is practical, efficient and enhances your board reporting
  • help to you to document your risks and controls
  • help to put processes in place that can lead to a reduction in your UK tax risk rating, leading to fewer enquiries
  • introduce you to our cyber and technology team to assess your technology risk and consider efficiencies and automation options.

Preventing the facilitation of tax evasion

Since 30 September 2017, companies can be found guilty not just of tax evasion, but of failing to prevent the facilitation of tax evasion. Offences have no de minimis and can expose companies to unlimited fines. The only defence available is to prove that the business already had reasonable prevention procedures in place at the time of any wrongdoing. HMRC have committed to bringing 100 prosecutions per year in relation to serious and complex tax crime by 2020 and are targeting tax evasion across all sectors.

We can help you to:

  • undertake or review your risk assessment
  • challenge the proportionality of your procedures
  • obtain top level commitment
  • challenge your due diligence processes
  • formulate effective communication and training
  • monitor and review your processes and procedures.

Get in touch with a member of the team to discuss a risk review of your business.

Director David Francis

+44 (0)121 2325 425

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