HMRC Settlements to Become More Transparent

HMRC Settlements

HMRC settlements – In the midst of public feeling that HMRC has had too cosy a relationship with large companies in relation to their tax settlements, new rules will be implemented in an attempt to make their dealings more transparent.

An assurance commissioner will be appointed and will be responsible for protecting the interests of the taxpayer by overlooking all large settlements.

For cases where more than £100 million is at risk to the public purse, tax professionals will be involved, in the shape of three commissioners.

An annual report of HMRC’s work will be published and all tax disputes while a new code of governance will oversee tax disputes.

Treasury Minister David Gauke MP said: “I welcome HMRC’s new governance arrangements, which will ensure a clearer separation between those who attempt to reach settlements and the commissioners who consider them.

“Settlements form an important part of HMRC’s large business strategy. This internationally recognised approach has not only led to an increase in tax collected in recent years, it is contributing to the government’s drive to make the UK more competitive in a global market. This will continue to be vitally important as we work to rebuild our economy.”

Ricky Steedman

Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.

His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.

Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.

Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.