Tax Governance
Creating a strong risk management framework
To avoid financial costs and reputational damage
- Business Risk Review
- Criminal Finances Act
- Corporate Criminal Offence – facilitation of tax evasion
- Senior Accounting Officer
- Tax Strategy
- Tax Risk Review
- DAC6
Tax governance has grown rapidly in complexity and importance over recent years and shows no sign of abating. Barely a week goes by without new HMRC investigations or news of a company not paying enough tax. As the government reaffirms its promise to tackle tax avoidance, tax governance has become a central tax issue.
The numerous rules and regulations taken together serve two primary functions: Firstly, formalising control and responsibility for tax compliance by the business; And secondly, enabling HMRC to identify and address tax non-compliance.
The various requirements allocate responsibility for corporate compliance to specific individuals within a business and expose businesses to increased scrutiny to encourage tax compliance. Good tax governance demands that businesses keep up to date with new developments without losing sight of the established basic rules. The financial and reputational penalties for non-compliance can be significant, both for the company and senior management.
To help your business mitigate the risk of penalties, reputational damage and future enquiries, our expert team can help you focus and direct resources and planning into strong tax governance framework.
Useful Reading
These are just a few related articles to give you further insights and information
Tax Diary June/July 2022
We’ve listed the key tax deadlines and due dates for June and July 2022 – so you don’t miss a tax deadline!
Free company information
There is a significant amount of information about companies that can be obtained from Companies House. Find out more…
Tax Diary May/June 2022
Here are some key tax dates for May and June 2022. Make a note of the ones relevant to you to avoid missing any important tax deadlines!
Spring Statement 2022
The Chancellor, Rishi Sunak, has delivered his Spring Statement to the House of Commons against a backdrop of a growing cost of living crisis. Read the highlights of the main tax measures that were announced.
Appeals process for late filing of company accounts
There are late filing penalties which are designed to encourage companies to file their accounts and reports on time.