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HMRC internal manual

Tax Compliance Risk Management

From
HM Revenue & Customs
Updated
, see all updates

Managing our relationship with large business customers: working with Low Risk customers: benefits of Low Risk

For our customers

  • interactions with HMRC will, in general, be driven by them rather than by HMRC;
  • interventions instigated by HMRC will be the exception rather than the rule; we will trust our Low Risk customers to manage their tax risks without the need for intervention from us;
  • fewer interventions will mean reduced costs for the customer;
  • they will have a high degree of certainty that we will not question returns and declarations;
  • they will have more certainty over their tax liabilities; and
  • they should receive quicker responses to requests for clearances without the need for us to ask for further information unless the activity covered is so novel that HMRC has to consider the taxation position from scratch.

For HMRC

  • we will only need to complete a full Business Risk Review every three years or longer, as agreed with the Deputy Director.
  • customers will disclose issues or areas of uncertainty to us in real time and we will work risks in partnership with them;
  • there will be a reduction in costs due to our not pursuing potentially insignificant risks; and
  • we will be able to focus compliance resource on customers who represent a greater risk with the aim of more effectively closing the tax gap.