HMRC’s Wealthy External Forum have issued a briefing to forum members regarding an educational ‘One to Many letter’ to individuals who are named as a Person of Significant Control of a mid-sized businesses.
The letters will highlight some common errors and invite individuals to review their tax affairs and, if necessary, amend their 2018/19 return. The letter will also ask individuals to include any additional income on their 2019/20 return. The campaign is to be run by the Wealthy and Mid-sized Business Compliance Wealthy team. HMRC will send letters directly to individuals with a separate letter to the agent where the taxpayer is represented.