{"id":19001,"date":"2013-01-21T11:19:49","date_gmt":"2013-01-21T11:19:49","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=19001"},"modified":"2013-01-21T11:19:49","modified_gmt":"2013-01-21T11:19:49","slug":"how-come-so-little-transfer-pricing-is-investigated-by-h-m-revenue-customs","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/01\/21\/how-come-so-little-transfer-pricing-is-investigated-by-h-m-revenue-customs\/","title":{"rendered":"How come so little transfer pricing is investigated by H M Revenue &#038; Customs?"},"content":{"rendered":"<p>Reuters <a href=\"http:\/\/uk.reuters.com\/article\/2013\/01\/21\/uk-britain-tax-idUKBRE90K00H20130121\" target=\"_blank\">have reported this morning that<\/a>:<\/p>\n<blockquote><p>Her Majesty's Revenue and Customs (HMRC) said the amount of 'tax under consideration' from large businesses, in relation to transfer pricing and thin capitalisation inquiries, was 1 billion pounds at 31 July 2012, up from 680 million at the end of March 2011.<\/p>\n<p>The data was released in response to a Freedom of Information Act request from lawyers Pinsent Masons.<\/p>\n<p>Heather Self, a partner with the firm, said the figures showed HMRC was getting tougher with big companies.<\/p>\n<p>However, a spokesman for the tax authority said there had been no change in approach.<\/p><\/blockquote>\n<p>I\u00a0would\u00a0be surprised if the\u00a0increase\u00a0was\u00a0coincidence.<\/p>\n<p>The Revenue's response is disappointing. What's wrong with saying HMRC is tackling transfer pricing abuse? It\u00a0exists, after all and it's exactly what the Public Accounts Committee asked that HMRC do.<\/p>\n<p>What is\u00a0surprising\u00a0is that the sum under scrutiny is so small. International trade into and out of the UK amounts to hundreds of billions a year. 60% of that is\u00a0likely\u00a0to be subject to transfer pri<span style=\"font-size: 13px;\">cing. How come so little is looked at? Could it be because\u00a0H M Revenue &amp; Customs have just 65 transfer pricing specialists?\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters have reported this morning that: Her Majesty&#8217;s Revenue and Customs (HMRC) said the amount of &#8216;tax under consideration&#8217; from large businesses, in relation to<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/01\/21\/how-come-so-little-transfer-pricing-is-investigated-by-h-m-revenue-customs\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[],"class_list":["post-19001","post","type-post","status-publish","format-standard","hentry","category-transfer-pricing"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=19001"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/19001\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=19001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=19001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=19001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}