Publication of tax strategies by large businesses

Produced by a Tolley Corporation Tax expert

Corporation Tax

Guidance

All qualifying large groups, companies, partnerships and permanent establishments are required to publish details of their tax strategy in relation to UK taxation. It is intended that this will facilitate public scrutiny of the relevant business’ approach towards tax planning and tax compliance. This should in turn encourage adherence to best practice and reduce the occurrence of tax avoidance and aggressive tax planning. Penalties may be levied in cases of non-compliance.

Many large groups already publish some sort of statement on tax policy, as part of the annual report in the financial statements for example, which is often motivated by reputational considerations. However, this legislation makes it a statutory requirement to do so, prescribing the content and form the report should take.

Definition of key terms

FA 2016, Sch 19, Part 4, para 55 contains a list of definitions which are relevant to the publication of tax strategies. These definitions also apply for the legislation governing sanctions for persistently uncooperative large businesses set out in Sch 19, Part 3, details of which can be found

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