½Û×ÓÊÓƵ

Business risk review


Produced by a Tolley Corporation Tax expert
Corporation Tax
Guidance

Business risk review


Produced by a Tolley Corporation Tax expert
Corporation Tax
Guidance
imgtext

Business risk review (BRR+)

Companies dealt with by the large business (LB) and certain companies dealt with by local compliance (large and complex) (L&C) within HMRC will normally be subject to a BRR+ once a customer compliance manager (CCM) has been appointed, or if a review is requested. The overall aim of the review process is to assess the tax compliance risk profile of a company and categorise it as either low risk, moderate risk, moderate-high risk or high risk.

Once an initial review has been completed, a company will be entered into a cycle of further reviews, the frequency of which depends on the allocated risk status.

The review process will be in reference to all the taxes relevant to the business and an overall rating will also be issued in respect of the business as whole.

HMRC will undertake various research activities, for example reviewing group websites, and will also hold a fact-finding meeting with the company. A collaborative approach is encouraged, with input from tax, audit and other specialists.

A more detailed overview of

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+â„¢
TAKE A FREE TRIAL NOW
Powered by
  • 15 May 2024 12:10

Home/ ½Û×ÓÊÓƵ Guidance/ Corporation Tax / Risk management and governance

Popular Articles

Value Added Tax

Exemption ― burial and cremation

Exemption ― burial and cremationThis guidance note provides an overview of the VAT treatment of services that are provided in connection with the burial or cremation of human remains.VAT treatmentThe following services are exempt from VAT:•the disposal of the remains of the dead•making arrangements

14 Jul 2020 11:38 | Produced by Tolley Read more Read more
Trusts and Inheritance Tax

Payments to trust beneficiaries

Payments to trust beneficiariesThis guidance note considers the trustees powers to make payments and whether the payment made is income or capital.This guidance note is designed to give outline and background for accountants and tax advisers who deal with clients establishing trusts. It is not

14 Jul 2020 12:52 | Produced by Tolley Read more Read more
Owner-Managed Businesses

Interest on late paid tax

Interest on late paid taxIntroductionInterest on late paid tax is a compulsory charge set out in legislation to reflect the interest which would have accrued to the Exchequer had the correct amount of tax been paid at the right time.Harmonised legislation was introduced in 2009 to:•set statutory

14 Jul 2020 12:00 | Produced by Tolley in association with Philip Rutherford Read more Read more