HMRC has launched a consultation into its process of evaluating the tax risk profile of the UK’s largest businesses. The consultation considers the procedural elements of the business risk review (BRR), as well as asking wider questions on how else the behaviours of large business can be influenced. It is positive that the wide scope of the consultation seeks to address the concerns that have been raised by businesses to date on the BRR. The process could afford to be less prescriptive, but with greater focus on determining whether controls in place do in fact control the relevant risks and behaviours to an acceptable level.
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