UK HMRC has issued updated guidance dated 30 July 2024 on the requirement for large businesses to annually publish their tax strategy. The requirement was introduced in 2016 and applies for financial years starting after 15 September 2016.
The main update clarifies the threshold for who must publish a strategy. In general, UK companies with turnover exceeding GBP 200 million and/or a balance sheet total exceeding GBP 2 billion are required to publish a strategy. Further, UK companies are r…