The UK’s tax governance regime is comprised of numerous different reporting requirements that together formalise the control of and responsibility for tax compliance by businesses. The various requirements allocate responsibility for corporate compliance to specific individuals within a business and expose businesses to increased scrutiny to encourage tax compliance. Good tax governance demands that businesses keep up to date with new developments without losing sight of the established basic rules. The financial and reputational penalties for non-compliance can be significant, both for the company and senior management.
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The UK’s tax governance regime is comprised of numerous different reporting requirements that together formalise the control of and responsibility for tax compliance by businesses. The various requirements allocate responsibility for corporate compliance to specific individuals within a business and expose businesses to increased scrutiny to encourage tax compliance. Good tax governance demands that businesses keep up to date with new developments without losing sight of the established basic rules. The financial and reputational penalties for non-compliance can be significant, both for the company and senior management.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
