Profit Diversion Compliance Facility (“the PDCF”) - last chance for businesses to correct their tax affairs
Written By
Partner
UK
I am a tax lawyer specialising in corporate, asset finance and structured finance transactions. I am also a member of our London Management Team.
Legal Director
UK
As a Legal Director in our London-based Tax Group, I have wide-ranging experience to offer our clients, with over 25 years' experience in tax matters at major city firms.
On 10 January 2019, HMRC announced a new voluntary disclosure facility that gives companies an opportunity to disclose and correct any tax inaccuracies relating to profits diverted out of the UK. The PDCF is being framed as the last chance for businesses with cross border arrangements to correct their tax affairs or face higher penalties in the future.
