Are
you caught by the new rules?
The Government was forced to change the UK transfer
pricing rules
to ensure they are not rendered invalid under EU
law, on the grounds
that they discriminate against non-UK EU
businesses. So, from 1
April 2004, the previous exemption for UK-UK
transactions was
withdrawn, dragging many UK domestic taxpayers into
the regime for the
first time. And many of the taxpayers who were
already subject to
the old regime now have to take into account
domestic
transactions, so the figures involved will multiply
and new types of
transactions may be subject to the regime.
Some lucky taxpayers are exempt if they are
sufficiently small.
On-line tool
We have developed an on-line tool to lead you
through the new rules to
indicate whether, and the extent to which, you are
caught.
In
order to simplify things, we have boiled down the
relevant parts of the
transfer pricing legislation to the following five
steps:
Click on Step 1
to commence using the on-line tool. It will
guide
you through the steps, one by one. At each
step, you may learn
that you are not caught, in which case you can stop
there.
Otherwise, you move on to the next step.
Note that this may take more than a few
minutes. There are more
than 30 webpages in the tool, so you may need to set
aside an hour or
two, to make the most of the tool.
The 'small print'
The
comments on this page and elsewhere
on this website are of a
general nature. It is not
practicable in a general review such
as
this
to consider every convolution of the
UK transfer pricing rules or of
any other tax law that may be
relevant. Moreover, these
pages
naturally do not take into account
the specific facts relating to any
particular taxpayer.
Therefore, although the guidance in
this
website
should give a good indication of the
likely position under the transfer
pricing rules, taxpayers should
obtain professional advice to verify
the position, or carry out their own
analysis.
Neither
TPS nor its affiliates and employees make
any representation regarding
the
completeness or accuracy thereof and they
accept no responsibility for
any loss or damage incurred as a result of
any user acting or
refraining from acting upon anything
contained on these pages or upon
its omission therefrom.
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