UK consulting on uncertain tax treatment law

The UK Government is consulting on the technical guidance for the government’s new policy: Notification of uncertain tax treatment by large business.

The policy has been designed to reduce the legal interpretation portion of the tax gap by helping HMRC identify more legal interpretation issues at an earlier stage. An initial draft of the technical guidance was published in August 2021, explaining how HMRC will interpret and apply the Uncertain Tax Treatment (UTT) legislation and to help businesses comply with the new legislative requirements.

The consultation closes on February 1, 2022.

See Announcement