Tax is a strategic issue for every business. We are being asked by our clients ‘what good looks like?”, how their tax operations benchmark against their peers and how they can demonstrate to all stakeholders that their tax affairs are adequately managed.
Tax is usually a key issue on the board’s agenda and a central factor in business decisions. Boards are asking for practical ways to gain control and assurance over managing their tax risk, tax reputation and their tax operations, while at the same time seeking value for money.
HMRC is also changing its approach and expectations. Companies are being asked to demonstrate a proactive approach to tax compliance and risk.
Our approach to tax risk
Our tax risk and strategy team has a wealth of experience supporting clients, across all industries, and advising on the full range of tax issues. Our team of tax risk and strategy specialists have developed a unique and market leading approach. They have created tools such as our Tax Risk Assurance Matrices (TRAMs) and our Tax Operations Assessment tool. These are shared with internal and external stakeholders to demonstrate compliance and have been well received by HMRC.
Below you will find more information on how we can help you with the tax risk and compliance issues you face;
- Strengthening your tax risk framework and undertaking a group wide tax risk review – Find out why we believe our straightforward approach delivers demonstrably improved identification, assessment and management of tax risk.
- Tax workflow and risk management technology – A brief explanation of how BDO can help you use the OneSource WorkFlow Management platform to improve your global tax compliance and oversight.
- Publishing your tax strategy – A practical guide to publishing your tax strategy with clear explanation of the legal requirements and best practice.
- ‘Managing risk in tax’ applications and spreadsheets - Spreadsheets can quickly become obsolete. Integrity and security issues, version control and incorrect tax logic can all lead to costly errors. BDO’s simple ‘automated diagnostic’ finds these issues, helps you improve your spreadsheets and provides the assurance you need.
Get in touch to find out how we can help.