Senior Accounting Officer
The Senior Accounting Officer (SAO) legislation requires SAOs to take reasonable steps to ensure that they establish and maintain appropriate tax accounting arrangements to allow tax liabilities to be calculated accurately in all material respects.
New leadership in HMRC’s SAO team, the introduction of BRR+ and an increasing focus on tax risk governance and strategy by all stakeholders have increased the importance of ensuring you have a robust SAO compliance framework in place.
The Senior Accounting Officer, and the processes established to support the role, are also key element of managing your tax affairs effectively as well as a legal requirement.
SAO compliance assurance: helping you sleep at night
If you are the SAO for your firm, you are personally liable for any failure to meet your duties. You can rely on us to advise and support you, and your company, on any and all aspects of Senior Accounting Officer compliance. Our SAO assurance services incorporate a classic internal audit approach and use our TRAM methodology that ensures a thorough and robust service.
Find out more about working with us to adopt best practice in Senior Accounting Officer compliance.
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What do I need to know about the SAO regime?
UK incorporated companies that standalone, or as are members of a group, have total UK aggregated turnover of greater than £200 million and/or a relevant balance sheet total of more than £2 billion are affected by the SAO regime.
Businesses are required to nominate a Senior Accounting Officer who needs to ‘take reasonable steps to ensure that the company establishes and maintains appropriate tax accounting arrangements.’ Essentially, this means undertaking a risk and process review of tax internal controls relating to tax compliance for all taxes.