Sharing HMRC information to assist the King’s Award for Enterprise Committees recommendations
Memorandum of Understanding for access to HMRC information to assist the King’s Award for Enterprise Committees to make recommendations about awards to United Kingdom companies.
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The purpose of this document is to set out the arrangements for the exchange of information between HMRC and the Department of Business and Trade, in relation to due diligence checks undertaken by the King’s Awards Office prior to making recommendations to the Prime Minister and the King for the award of a King’s Award for Enterprise.
The Commissioners believe that disclosure of HMRC information to Department for Business and Trade to inform the Kings Award Office, supports HMRC functions of collecting and managing revenue and is necessary and proportionate because it supports wider government aims and fulfils HMRC.
The expected benefits are:
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increasing the likelihood that companies who may be subject to the HMRC check will ensure that their tax affairs are in order and up to date
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increasing the likelihood that other companies in a similar position will be influenced to rectify their tax affairs if they become aware that poor tax behaviour is not consistent with receiving a King’s Award
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increasing the likelihood that taxpayers at large will maintain their trust in the integrity of tax administration by HMRC and comply with their tax obligations voluntarily if tax behaviour is seen as a factor when considering public reward and recognition via the King’s Awards system
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reducing the likelihood that taxpayers at large will lose their trust in the integrity of tax administration by HMRC and so fail to comply with their tax obligations voluntarily. Trust would likely be lost if a King’s Award for Enterprise was awarded to a company with negative tax behaviours and those behaviours became linked to the positive recognition that accompanies a King’s Award