Leading audit, tax and consulting firm RSM has partnered with HMRC’s Social Housing Sector team to advise registered providers of the tax risks facing the sector and how to navigate the challenges to ensure organisations remain compliant.
The events were the first of their kind in the sector and offered the perfect forum to discuss the current and emerging tax risks impacting Registered Providers. HMRC explained its ‘Promote, Prevent, Respond’ approach to supporting social housing organisations, which included the launch of a new ‘mailbox’ that will provide a direct route for Registered Providers to approach HMRC for guidance on complex tax issues – a move that was warmly welcomed by RPs and RSM.
RSM also provided its views on the tax environment in which Registered Providers operate; and offered advice on how to manage tax risk effectively to ensure accuracy and compliance, which was a key theme within each discussion.
The partnership between RSM and HMRC also hosted events in London, Manchester, Glasgow and Birmingham.
‘Many Registered Providers may not fully appreciate the range and complexity of the tax issues that can impact their business, nor what is expected of them in terms of managing that complexity. It was great to partner with HMRC and provide the first forum in which these issues could be explored.
‘Whether its new legislation such as termination payments or Making Tax Digital; structures to manage tax exposure in relation to housing development or regeneration projects; or the consequences of tax treatment following a merger, Registered Providers are navigating a tricky tax landscape. An effective tax management strategy can help mitigate risk, but it requires a structured approach that’s led from the very top of the business.’