Tax investigations into large businesses are now taking more than three and a half years to settle reaching a record 43 months in 2018-19 up 10% from 39 months in 2017-18 says Pinsent Masons.
Jason Collins partner at the firm said: ‘While businesses might be able to afford the direct financial cost of a tax dispute the broader impact of these investigations can be very damaging in terms of eating up crucial management time and distracting the focus of the business. At times a HMRC investigation can make a business feel like it is under siege.’
HMRC’s litigation and settlement strategy (LSS) which was designed to resolve tax disputes with a consistent framework makes it difficult for individual HMRC teams to settle disputes for less than the full amount of tax initially identified as potentially underpaid. Mr Collins added: ‘HMRC’s inflexible approach to...
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