The SAO regime requires qualifying companies to demonstrate that their tax accounting arrangements are robust and appropriate. The SAO regime targets an entity’s tax governance and systems, with a view to ensuring correct tax reporting and payment.
A qualifying company must appoint a SAO who has overall responsibility for the company’s financial accounting arrangements.
The SAO regime applies to UK incorporated companies with a turnover of more than £200 million and/or a balance sheet total of at least £2 billion for the preceding year. UK companies can qualify on a standalone basis or when aggregated as part of a group.