UK publishes requirements for Transfer Pricing records

27 July 2023|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Transfer Pricing, BEPS 2.0|United Kingdom

The UK Government has published regulations to specify the form and manner in which relevant Transfer Pricing records are to be kept and preserved with reference to the Organisation for Economic Co-operation and Development's Transfer Pricing Guidelines.
The regulations have effect for corporation tax purposes in relation to returns for accounting periods beginning on or after 1 April 2023 and for income tax purposes from the tax year 2024-25.

Background

The UK's Finance (No. 2) Act 2023 authorized…

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