Revenue watch: Managing complex risks

Speed Read: HMRC has increasingly focussed on the risk profile of its corporate customers over the last five years as a way of increasing revenues. The successful High Risk Corporates Programme was a key element in this plan, and has now been extended to 'Large and Complex' corporates. HMRC will work with the corporates to resolve outstanding issues or push forward those which need to be litigated. It seems inevitable that this collaborative approach will extend to other HMRC operational offices, including the High Net Worth Unit. Whether individuals will be as keen as corporates to engage in this process remains to be seen.