Services
Audit & Assurance
External, internal and joint venture audit services
Business Advisory
Management accounts, strategic planning, profit improvement, ESG
Corporate Finance
M&A advisory, selling a business, fundraising, valuations, due diligence
Hotel Accounting
Accounting function, automation, daily reconciliations and dashboards, accounts payable
Payroll & Employment
Payroll, global mobility, employee benefits, employment taxes
People
Full-service people consultancy - human resources, learning and development
Private Clients & High Net Worth Individuals
Tax planning & compliance, tax residence and domicile, trust planning
Restructuring & Recovery
Business rescue, liquidations, administrations, insolvency, debt recovery
Sustainable Business & ESG
Baseline assessments, materiality assessments, carbon footprint and sustainability reporting
Tax
Corporate tax, customs duty, VAT, R&D, tax investigations, international tax
Virtual Finance
Bespoke service providing real-time information about your business performance
More from AAB
AAB WEALTH
Financial planning, cash flow modelling, retirement planning
Sectors
Business Services
Professional services, medical, recruitment and media
Construction & Property
Property developers, construction companies, housebuilders, landlords
Energy
Renewables, clean energy, energy producers, energy transition, exploration and production
Family Business
Specialist support for businesses owned/managed by families
Food & Drink
Food & drink producers, processors, importers, wholesalers and retailers
Industrial
Engineering, manufacturing, aerospace, automotive, shipping, distribution
Leisure, Retail and Hospitality
Fashion, entertainment, activity centres, hoteliers
Not For Profit
Charities, social housing, higher and further education institutions
Public Sector
Government, non-departmental public bodies, health boards, ALEOS
Technology
Software companies, tech start-ups, cybersecurity firms, and AI innovators.
About
AABout Us
Our story
Our Team
Meet the specialists
Careers
Join the AAB team
Diversity & Inclusion
Building a business where everyone feels they belong
Growing Sustainably - ESG
ESG – Our commitment to building a sustainable business
News
Latest news from across AAB Group
AABIE
AAB charitable initiative
AAB hits £100 million revenue through strategic deal in Ireland
Insights
Blogs
Stay informed with cutting-edge news for business growth. Our experts offer industry insights and invaluable advice on accountancy and business strategies.
Case studies
Explore insightful case studies tailored to specific industries, offering invaluable lessons and strategies for success.
Webinars & Events
Engage with dynamic webinars and events tailored to your interests, offering valuable insights and networking opportunities.
ESG Diligence: The Key To Sustainable M&A Transactions
AAB / Blog / Large Business Notification Requirement of Uncertain Tax Positions
BLOG6th Apr 2022
HMRC have introduced new legislation on Uncertain Tax Treatments (UTT) for large businesses. The legislation is now in force, with effect from 1 April 2022.
Certain large companies and partnerships are required to notify HMRC of uncertain tax treatments which are included in the relevant return submitted to HMRC on or after 1 April 2022. Relevant returns include corporate tax, VAT and income tax returns (including self assessment and PAYE returns) and notifications will be required where there is uncertainty surrounding the following criteria:
Large companies are generally those with a UK turnover exceeding £200m and a UK balance sheet of £2bn and includes UK companies, partnerships, limited liability partnerships, UK branches and UK permanent establishments.
There are exemptions available and a de minimis limit of £5m which reduce the compliance obligation. However, penalties will apply for late notifications, for incomplete or inaccurate notifications or for non-submission of a notification. The penalties start at £5,000 and increase up to £50,000.
If you have any queries or want to discuss how this may impact on your business, please get in touch with Helen Brown, Director of International Tax, or your usual AAB contact.
Find out more about AAB’s International Tax team.
How AAB can help you with
Corporate Tax covers a broad and complex area of tax legislation, so we provide a suitably broad and comprehensively experienced team to support your business with pragmatic, commercial advice. Businesses of all sizes and types, and across a wide range of sectors, benefit from our comprehensive corporate tax compliance and advisory service. We have exceptionally knowledgeable tax teams distributed across our offices, ready to support you with their wealth of experience and expertise. We can manage your global tax exposure with a coordinated response that saves you having to seek advice from separate advisors.
If you’re facing multi-jurisdictional challenges around global mobility, tax, employer responsibilities, accounting or other issues, we’ll save you the hassle of searching for international advice – the right people are already available in our expert teams and across our Reach Network. AAB works with multinational clients across the globe, so it’s only logical that we have a comprehensive and highly effective support network that work alongside our International teams to serve them, wherever in the world they operate.
Related services