HMRC proposes introduction of system for advance rulings and other changes | Practical Law

HMRC proposes introduction of system for advance rulings and other changes | Practical Law

Following the review announced by Gordon Brown at Budget 2006 into the relationship between HMRC and large businesses, the consultative committee chaired by Sir David Varney has published its report. Key proposals put forward in the report include introducing a system of advance rulings for transactions, faster settling times for transfer pricing enquiries, speedier resolution of issues with HMRC and greater consultation with business to achieve earlier clarity and reduced complexity.

HMRC proposes introduction of system for advance rulings and other changes

Practical Law UK Legal Update 0-206-0110 (Approx. 5 pages)

HMRC proposes introduction of system for advance rulings and other changes

by PLC Tax
Law stated as at 17 Nov 2006United Kingdom
Following the review announced by Gordon Brown at Budget 2006 into the relationship between HMRC and large businesses, the consultative committee chaired by Sir David Varney has published its report. Key proposals put forward in the report include introducing a system of advance rulings for transactions, faster settling times for transfer pricing enquiries, speedier resolution of issues with HMRC and greater consultation with business to achieve earlier clarity and reduced complexity.