New Business Risk Review rewards those with lower risk

If the introduction of the enhanced Business Risk Review+ (BRR+) by HMRC on 1 October 2019 passed you by, you’re not alone. A snap poll of ICAEW members and non-members on the Future of Tax Automation webinar found 43% were unaware of BRR+ and only 13% were actively seeking to comply.

HMRC concluded its pilot meeting for the new framework, which is designed to assess the risk profiles of the 2,000 largest businesses in the UK, in March. Since then, there’s been very little coverage of the new obligatory criteria. So what’s changed?

BRR+ sees a substantial overhaul of the old system. Gone is the pass/fail binary scoring of ‘low’/’non-low’ risk which has now been replaced by a far more informative graded score of ‘low’, ‘moderate’, ‘moderate-high’, and ‘high’ risk. (Needless to say, the lower the score, the better the risk stature of the company).

Tax Systems is a leading specialist in corporation tax technology & services in the UK & Ireland. As of 24th May 2018, MXC Capital Ltd (LON:MXCP) holds a 4% share.

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