A key element in responding to the CCO legislation is carrying out a risk assessment. But before your carry a detailed risk assessment, you should consider the impact of the legislation for your business. This is a precursor of the formal risk assessment and will help you in considering where to direct your thoughts and resources.
A good place to start is the list of CCO risk indicators detailed in HMRC's CCO Guidance and we have designed some high level questions, based on this guidance. Having answered these questions, you will receive your CCORT report – summarising the potential areas of impact for your business and also including the tools you will need to respond to the legislation.