We’ve released new web guidance for large privately owned and wealthy groups (private groups) on assessing and reporting SGE status.
If your private group includes an entity that is – or might be – an SGE, read the guidance for information on getting SGE self-assessment right.
Correct SGE self-assessment and status reporting is important, as SGEs may be subject to increased penalties and certain tax integrity measures. SGEs that are also country-by-country reporting entities may have additional reporting obligations.
What the guidance covers
The new guidance outlines:
- our SGE status reporting and record-keeping expectations
- practical examples of SGE self-assessment featuring common private group structures
- low-risk scenarios where SGE status reporting is unlikely to raise compliance concerns.
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