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This episode is all about transfer pricing;  what is it, why does it matter, how it is applied to businesses, where does it need to be applied and how the UK documentation regime works. It’s not something to be afraid of – it’s something to be aware of.So what is transfer pricing? Transfer pricing is the pricing of transactions between associated enterprises. Most commonly, this is the pricing of interactions between companies within a group. From a tax authority perspective, they are looking for these interactions to be at a price that would be set between independent parties.For more information, or any questions around transfer pricing, please get in contact with Philip Newbold.SOCIAL MEDIA:Twitter - @SmithWilliamsonLinkedIn - @Smith&WilliamsonCREDITS:Hosts: Philip Newbold, Rebecca Foley, Mike BeardProducer: Laura BurrowsGET IN TOUCH:Have any feedback? We're listening, email us at: podcast@smithandwilliamson.com This episode was recorded on 04/03/2021This S&W The Pulse podcast is of a general nature and is not a substitute for professional advice. No responsibility can be accepted for the consequences of any action taken or refrained from as a result of what is said. The views expressed are not necessarily those of the presenter or of Smith & Williamson or any of its affiliates. No reproduction of this podcast may be made in whole or in part for professional or recreational purposes. No action should be taken based on this podcast and we accept no liability if we change your views on any of the subjects mentioned.Tax [and Government] legislation is that prevailing at the time, is subject to change without notice and depends on individual circumstances. Clients should always seek appropriate tax advice before making decisions. HMRC Tax Year 2020/21.