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Global Insurance Blog International Insurance and Reinsurance News, Trends, and Cases
Posted in Regulatory and legislative updates, UK

UK: HMRC introduces Profits Diversion Compliance Facility

Our tax team recently published an article about the introduction of a new Profits Division Compliance Facility by HM Revenue & Customs.  This is an opportunity for multinationals, including insurers, active in the UK to initiate a discussion with HMRC on how they allocate their profits across jurisdictions for tax purposes.  It is particularly relevant to insurers that book significant profits in low tax jurisdictions.  Click here to read the article.