In January of 2019, HMRC launched a new Profit Diversion Compliance Facility - also known as PDCF or simply the Facility – with the aim of encouraging multinational companies with tax arrangements potentially linked to Diverted Profits Tax (DPT), to analyse their previous transfer pricing and compile a settlement proposal and report based on any extra UK tax and interest. PDCF is available to those whose accounts are not currently under enquiry or review.
The UK Government has set a deadline for the UK to leave the EU on 31 October 2019. This means that, as of 1 November, it is expected that freedom of movement between the UK and EU countries will end, with no legislative provision. For businesses who employ EU workers, this is an uncertain time, and one which can make employers feel nervous about what the future holds for their business and employees.