Tax & Accounting Blog

What every tax professional needs to know about Intercompany Agreements for transfer pricing compliance

What every tax professional needs to know about Intercompany Agreements for transfer pricing compliance

Paul Sutton, LCN Legal Intercompany Agreements (often referred to as ICAs) are legal agreements between related parties. They define the legal terms on which services, products and financial support are provided within a group. Why do multinational organisations need them? It has long been accepted that ICAs are a fundamental part of Transfer Pricing compliance […] … Read More

U.K. Issues Updated Guidance on Worldwide Disclosure Facility

U.K. Issues Updated Guidance on Worldwide Disclosure Facility

On June 15, 2017, U.K. HMRC issued updated guidance on the Worldwide Disclosure Facility (WDF). See BEPS Action 12. On December 31, 2015, all HMRC offshore facilities closed. The WDF is currently available to anyone who would like to disclose a U.K. tax liability that relates wholly or partly to an offshore issue, which includes […] … Read More