UK HMRC has launched a public consultation on the notification of uncertain tax treatment by large businesses that was announced as part of Budget 2020. The consultation closes on 27 May 2020.
Consultation description
The proposal is designed to improve HM Revenue and Customs' ability to identify issues where businesses have adopted a different legal interpretation to the view of HM Revenue and Customs.
This requirement will help to reduce tax losses caused by businesses adopting tax tre…