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HMRC has now sent its first tranche of letters to taxpayers inviting them to register for the Profit Diversion Compliance Facility. Those who have already received a letter, or who may be likely to receive a letter in future tranches, and anyone interested in what this development may mean for them more widely, will have many questions as to what they should do next.

In view of the need for urgent action or consideration following the launch of HMRC's Profit Diversion Compliance Facility, and to assist anyone likely to be in receipt of a letter from HMRC, we invited HMRC to participate in a webinar on Wednesday 20 February 2019. A recording of the webinar is available below. 

The webcast was led by Giovanni Bracco - PwC’s Tax Disputes Leader asking questions of a panel made up of:

Diane Hay - Special Advisor, International Tax;

Chris Palmer - HMRC, Diverted Profits Project, PDCF Project Lead; and

Mike Baird - HMRC, Diverted Profits Project, Lead on Tackling Non-Compliance.

Chris and Mike are both key members of HMRC’s Profit Diversion leadership team and have been closely involved in the development of the Compliance Facility, which was launched last month.

The recorded webcast can be accessed here.