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Getting a Clearance from HMRC

 
Ray McCann senior manager at PricewaterhouseCoopers LLP explores the statutory and non-statutory arrangements that enable taxpayers to obtain clearances from HMRC
 
The current statutory and non-statutory arrangements that enable taxpayers to obtain clearances from HMRC represent an important feature of the UK tax system. When compared to the rulings approach of some other countries for example the United States and Australia taxpayers in the UK have arguably had less opportunity to obtain certainty from HMRC. The recent announcement by HMRC that it has started a three-month pilot to test a new approach to non-statutory clearance looks set to significantly increase the opportunities for businesses to obtain a view of HMRC on the tax consequences of commercially significant transactions.
 
HMRC has used the term 'clearance' to describe all of...

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