In May, HM Revenue and Customs (HMRC) updated its internal manual related to Tax Compliance Risk Management. This guidance is for Large Business Customer Compliance Managers (CCMs) and their customers and explains HMRC’s approach to working with Large Business customers to manage their tax compliance risks. In the manual, the updates included a definition for ‘co-operative compliance,’ which is a term developed by the Organisation for Economic Co-operation and Development (OECD). Co-operative compliance describes the process where tax authorities look to manage risk effectively with large and complex customers. The OECD is clear that “co-operative compliance approach is based on co-operation but with the purpose of assuring compliance, which is to say payment of the right amount of tax at the right time.” The manual also includes references to the new page for TCRM2210 – Managing our relationship with large business customers: HMRC Framework for Co-operative Compliance.
Check out the new TCRM2210 page here:
https://www.gov.uk/hmrc-internal-manuals/tax-compliance-risk-management/tcrm2210
Check out the internal manual updates here:
https://www.gov.uk/hmrc-internal-manuals/tax-compliance-risk-management/updates
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