UK Businesses Report £900 Million in Uncertain Tax Positions

UK businesses had uncertain tax positions worth at least £900 million ($1.2 billion) as of March, according to figures published by the tax authority Thursday.

The figures reflect disclosures under the UK’s uncertain tax treatment policy, introduced in 2022 to improve transparency around tax positions with differing legal interpretations. The policy requires large businesses to notify His Majesty’s Revenue and Customs if they take a tax position that may not align with the tax authority’s interpretation of the law.

The policy largely met its objectives, with notifications totaling more than £900 million, at a median value of £15 million, according ...