This article takes a closer look at the recent HMRC transfer pricing and diverted profits tax (DPT) statistics for 2017/18 and what they mean.
Overall, tackling transfer pricing remains a priority area for HMRC, with the 2017/18 TP yield high at £1.7b (in line with the previous year) and an increasing number of HMRC staff dealing with TP issues.
The key takeaways from the recent statistics are:
- Transfer pricing yield remains high
- DPT is bringing in tax revenues
- HMRC settles TP enquiries faster
- HMRC is focused on MAP, limiting resources to deal with APAs