Global Daily Tax News, HMRC Outlines Plans For New Int'l Controlled Transactions Schedule, (Jun 22, 2026)

HM Revenue and Customs has launched a technical consultation on the requirement for in-scope multinationals to report certain information about cross-border related party transactions to HMRC.

This technical consultation sets out the details of a draft International Controlled Transactions Schedule (ICTS) reporting requirement. The ICTS will facilitate automated, data-led risk assessment by HMRC, permitting more accurate identification of transfer pricing risk, improving fairness, and increasing efficiency, HMRC said.

The Government is seeking views on draft regulations, a draft HMRC notice, and a draft template illustrating the information that would need to be filed annually.