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Overview

Proposal 5 of the Review of Links with Large Business, which can be read by clicking on this , committed HMRC to resolving new transfer pricing enquiries within

• 18 months for the large majority of cases, and
• 36 months for those which are particularly complex and high risk

»Ê¹ÚÌåÓýapp Transforming Transfer Pricing Project determined that the best way to ensure that - and to deliver a performance shift in the effectiveness and consistency with which transfer pricing enquiries were worked - was to develop not only a different structure but also entirely new governance procedures.

»Ê¹ÚÌåÓýapp central plank of these procedures is the governance process to which all active and potential transfer pricing enquiries are subject.

Important note

A transfer pricing enquiry must not in any circumstances be opened (or any approach made to a customer that might be construed as a transfer pricing enquiry) or settled unless approval to do so has been obtained from the Transfer Pricing Panels or Transfer Pricing Board under the appropriate governance procedure.