Autumn Statement 2015: Corporates and HMRC to cooperate to ensure correct taxation

Autumn Statement 2015: Corporates and HMRC to cooperate

It is good news that HMRC have listened to representations on large business compliance, and the evolution of the previous suggested voluntary code of practice into the framework for cooperative compliance will be welcomed.

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Encouragement to large business tax compliance

Commenting on the announcement of new measures to encourage large business tax compliance, Chris Morgan, Tax Partner at KPMG in the UK, said:

“It is good news that HMRC have listened to representations on large business compliance, and the evolution of the previous suggested voluntary code of practice into the framework for cooperative compliance will be welcomed.

“The new framework will mean that cooperation between big business and HMRC to ensure taxes are paid correctly will be encouraged. We look forward to seeing the detail on this in due course.”

 

ENDS

 

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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