UK Shares Transfer Pricing Staff Expectations in New Guidance

The UK’s tax authority expects senior staff in charge of transfer pricing risk to review documentation produced to comply with rules and expects specialists to look beyond a transaction’s contract to determine compliance risks.

His Majesty’s Revenue and Customs released new guidance Tuesday to help top transfer pricing staff—called “risk leads”—and specialists know what’s expected of them when they examine a company’s compliance risk. The document also provides advice on how companies can stay compliant.

Transfer pricing dictates the way corporations value their intercompany transactions.

The document doesn’t represent a change in transfer pricing policy and should be read ...