Elevate Your Tax Risk & Governance
Tax governance is a cornerstone of responsible corporate management, ensuring compliance with tax laws while optimising tax outcomes within legal boundaries. At its core, tax governance encompasses the policies, procedures, and internal controls implemented by businesses to manage their tax affairs effectively.
Global Drivers for Enhanced Tax Governance
ESG
Tax is now a board level issue and needs to be aligned with the company's broader ESG agenda.
Tax Audits
A global increase in data-led tax audits as tax authorities seek to increase their tax take.
Transparency
Regulatory requirements to increase disclosure of tax strategies and taxes paid.
Reputational Risk
Reputational damage from being seen to be a bad corporate tax citizen.
Benefits of Effective Tax Governance
In today's global economy, navigating the international tax landscape can be daunting, with intricate regulations and potential pitfalls at every turn. Our experienced team, backed by the vast resources of Baker Tilly International with local member firms in over 140 countries, stands ready to guide you through these complexities. From global tax compliance outsourcing to transfer pricing and cross-border transactional support, we have the expertise to ensure your business thrives globally while you focus on what you do best—strategically pursuing your goals.
How MHA Can Support Your Tax Risk & Governance Journey
No matter where you are on your governance journey, MHA can support you with taking it to the next level. Whether you are embedding your governance for the first time, or looking to move up the maturity curve, our support is bespoke to your specific needs.
We assist clients with:
Increasingly businesses are expected to adopt a Tax Control Framework (TCF), which can help a business manage its tax risks and strengthen its tax governance. A TCF is a structured system of internal controls that ensures accuracy, completeness, and compliance of an organisation’s tax-related activities. It serves as a guide for managing tax risks effectively.
HMRC’s requirement for companies to publish a tax strategy underscores the government’s commitment to promoting transparency, fairness, and compliance in the tax system. By adhering to these requirements, companies not only fulfil their legal obligations but also demonstrate their commitment to responsible corporate citizenship.
Failure to comply with the SAO regime can result in penalties and adverse reputational consequences for both the individual SAO and the company. The SAO can be held personally liable for penalties arising from non-compliance with the SAO regime. This includes the risk of facing fines, sanctions, or even disqualification from serving as a director.
HMRC’s Business Risk Review+ (BRR) is intended to give HMRC a holistic and granular understanding of how a business approaches tax risk. The BBR covers all taxes that impact a business. The BBR will normally include a request for supporting information and governance documents from the business and face to face meetings to discuss the business approach to tax risk.
Since 30 September 2017 it has been possible for companies and partnerships to face prosecution for facilitating tax evasion. Tax evasion and the facilitation of tax evasion are already criminal offences; however, it had historically been difficult to attribute criminal liability to a corporation where such instances occur. Since these rules were introduced, it is the corporate that will be subject to prosecution without the need for prosecution of any individual with successful prosecutions potentially leading to unlimited fines, public record of the conviction and significant reputational damage. Find out more…
Elevate your tax risk & governance with MHA's expertise and tailored solutions, ensuring compliance, mitigating risks, and fostering stakeholder trust.
Our Tax Risk & Governance Team
Robin Prince
VAT and Indirect Tax Partner
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Anthony McFarlin
Tax Director
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Michael Spencer
Head of Corporate Tax - Northwest Region, Tax Partner
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Steve Davies
Corporate Tax Director
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Steve Haywood
Tax Director
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Pete Gaskell
Tax Senior Manager
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