HM Revenue & Customs published compliance guidelines for dealing with transfer pricing risks.聽
HM Revenue & Customs (HMRC) on September 10, 2024, published for聽dealing with transfer pricing risks (GfC7).
The guidelines recommend that businesses identify one or more 鈥淯K risk leads鈥濃攕enior finance, risk, or tax personnel鈥攔esponsible for managing transfer pricing and reiterate the need for robust and up-to-date documentation, regularly reviewed by the UK risk leads and amended as necessary. The guidelines also stress effective implementation of a consistent transfer pricing policy, and there is a substantial annex on supporting business records and information with examples that HMRC would expect to see in relation to specific circumstances and areas of analysis.
Read a September 2024 report prepared by the 乐鱼（Leyu）体育官网 member firm in the United Kingdom