HMRC One to Many letters concerning ‘Spotlight 63’ LLP property tax planning

10 Nov 2023

HMRC’s Wealthy Team recently sent letters to a small number of agents and their clients who were involved in property tax planning utilising an LLP and corporate member (as highlighted in their Spotlight 63). The letters invite recipients to withdraw from any such scheme, make a disclosure by 31 January 2024 and settle their tax affairs; failure to do so might led to an enquiry ultimately being opened. The letter also includes a factsheet which gives HMRC’s views on the law surrounding this tax planning compared to the advice which the individuals may have received when entering into it.

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