We identify a private group as a group of entities under the control of an individual and their associates. By control, we mean effective control where an individual has the primary decision-making role for the group.
Our private group approach considers all entities related to a controlling individual. Subject to privacy restrictions, we generally engage with the head of the group rather than separate group entities when conducting our enquiries.
This approach allows us to better understand the choices and behaviours of the controlling mind behind a private group structure.
Generally private groups have limited disclosure and less publicly available information. By engaging early with each other, we can build transparency and prevent mistakes.
Using sophisticated data mining techniques, we can detect relationships between the controlling individual and associated private entities, including companies, trusts and partnerships. As a result, we can risk-assess compliance behaviours at a holistic, group level.
We continue to expand our use of data to maintain a real time view of taxpayers and tailor our engagements in a way that makes it easy to get things right and hard not to.
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