{"id":253439,"date":"2025-05-23T08:38:11","date_gmt":"2025-05-23T08:38:11","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/uk-opens-consultation-on-transfer-pricing-documentation-and-its-scope\/"},"modified":"2025-05-23T08:38:11","modified_gmt":"2025-05-23T08:38:11","slug":"uk-opens-consultation-on-transfer-pricing-documentation-and-its-scope","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=253439","title":{"rendered":"UK opens consultation on transfer pricing documentation and its scope"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>This consultation seeks views on two related proposals.<\/p>\n<ul>\n<li>The first proposal is to amend the current exemption from transfer pricing for small and medium-sized enterprises (SMEs), to better define and defend the UK tax base. \u2013 this proposal considers <u>the removal of the exemption for medium-sized enterprises<\/u> and possible changes to the definition of small enterprises.<\/li>\n<li>The second proposal is to introduce a requirement for multinationals to report information on cross-border related party transactions to\u00a0HMRC\u00a0through an International Controlled Transactions Schedule (ICTS). \u2013\u00a0<u>this includes the introduction of a requirement to file an\u00a0ICTS\u00a0by all businesses regardless of the Group size. <\/u><\/li>\n<\/ul>\n<p>These proposals sit alongside the government\u2019s proposal to reform UK law in relation to transfer pricing, permanent establishment (PE), and Diverted Profits Tax. We will share mode details on this separately.<\/p>\n<p>Transfer pricing reform includes the <u>general repeal of the requirement to apply transfer pricing to UK-to-UK transactions. <\/u><\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>This consultation seeks views on two related proposals. The first proposal is to amend the current exemption from transfer pricing for small and medium-sized enterprises (SMEs), to better define and defend the UK tax base. \u2013 this proposal considers the removal of the exemption for medium-sized enterprises and possible changes to the definition of small [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[18517,30326,13723,14980,12630,10632],"dealstore":[],"offerexpiration":[],"class_list":["post-253439","post","type-post","status-publish","format-standard","hentry","category-accounting","tag-consultation","tag-documentation","tag-opens","tag-pricing","tag-scope","tag-transfer"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK opens consultation on transfer pricing documentation and its scope - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=253439\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK opens consultation on transfer pricing documentation and its scope - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"This consultation seeks views on two related proposals. The first proposal is to amend the current exemption from transfer pricing for small and medium-sized enterprises (SMEs), to better define and defend the UK tax base. \u2013 this proposal considers the removal of the exemption for medium-sized enterprises and possible changes to the definition of small [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=253439\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-23T08:38:11+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=253439#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=253439\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"UK opens consultation on transfer pricing documentation and its scope\",\"datePublished\":\"2025-05-23T08:38:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=253439\"},\"wordCount\":162,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"keywords\":[\"consultation\",\"documentation\",\"opens\",\"pricing\",\"Scope\",\"Transfer\"],\"articleSection\":[\"Accounting\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=253439#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=253439\",\"url\":\"https:\/\/fivemor.com\/?p=253439\",\"name\":\"UK opens consultation on transfer pricing documentation and its scope - 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