{"id":32538,"date":"2016-02-29T11:36:27","date_gmt":"2016-02-29T11:36:27","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=32538"},"modified":"2016-02-29T11:36:27","modified_gmt":"2016-02-29T11:36:27","slug":"are-hmrc-planning-to-ignore-country-by-country-reporting","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2016\/02\/29\/are-hmrc-planning-to-ignore-country-by-country-reporting\/","title":{"rendered":"Are HMRC planning to ignore country-by-country reporting?"},"content":{"rendered":"<p>HMRC <a href=\"https:\/\/www.gov.uk\/government\/publications\/country-by-country-reporting-updated\/country-by-country-reporting-updated\" target=\"_blank\">has issued a new paper on the way<\/a> in which it proposes to manage\u00a0country-by-country reporting. Included is this statement:<\/p>\n<blockquote>\n<h4 id=\"operational-impact-m-hmrc-or-other\">Operational impact (\u00a3m) (<abbr title=\"HM Revenue and Customs\">HMRC<\/abbr> or other)<\/h4>\n<p>There will be a modest cost to <abbr title=\"HM Revenue and Customs\">HMRC<\/abbr> from receiving and processing the reports and also from responding to requests to exchange information from tax authorities in other jurisdictions estimated at \u00a3100,000 for 2017 to 2018 and \u00a3200,000 a year thereafter.<\/p><\/blockquote>\n<p>Let's assume that HMRC are marginal costing, i.e. they are just considering additional direct staff costs. What does \u00a3200,000 buy? Maybe three reasonably senior people? Perhaps a bit less after NIC and pension costs are accounted for? And there are no IT costs at all, so no tools are to be created to handle this data, I note.<\/p>\n<p>Are they serious?<\/p>\n<p>The biggest new risk assessment tool for a generation is being introduced and HMRC are effectively saying they are going to ignore it?<\/p>\n<p>Why is that?<\/p>\n<p>Do they not want to avoid tax abuse?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HMRC has issued a new paper on the way in which it proposes to manage\u00a0country-by-country reporting. Included is this statement: Operational impact (\u00a3m) (HMRC or<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2016\/02\/29\/are-hmrc-planning-to-ignore-country-by-country-reporting\/\"><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":[79],"tags":[],"class_list":["post-32538","post","type-post","status-publish","format-standard","hentry","category-country-by-country"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/32538","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=32538"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/32538\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=32538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=32538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=32538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}