HMRC is looking to refresh its business risk review (BRR) approach in order to both reflect and further enhance the shift in large business compliance behaviours. As proposed within the consultation summary of responses published in March this year, HMRC has launched a pilot to develop and test an enhanced BRR process. The pilot introduces four levels of risk: low risk; moderate risk; moderate-high risk; and high risk. Businesses will be classified under these risk levels, depending on the number of HMRC-defined low-risk indicators which they fail to meet.
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