Latest nudge letter from HMRC concerning Persons of Significant Control and share disposals
31 Aug 2022
HMRC Wealthy External Forum have announced that nudge letters are now being sent out to individuals who are recorded as being ‘Persons of Significant Control’ within unquoted companies. Those who receive these letters, according to HMRC, had disposed of all/some of their companies’ shareholding in 2020/21 but did not record any such disposals on that year’s tax return. Recipients are advised to check the position and amend their tax returns by 31 January 2023 – failure to do so with outstanding omissions may result in HMRC’s launching an enquiry.