On 10 November 2025, UK HMRC updated its Operational Guidance on Transfer Pricing (INTM480000), including a complete rewrite of the page on Searching for comparables: range of results (INTM485120) as follows:
---
INTM485120 - Transfer pricing operational guidance: Evidence gathering: Searching for comparables: range of results
Usually, the search for potentially comparable uncontrolled transactions will produce a range of possible results. Case teams must use all available evidence to c…