HMRC One to many letters and Business Asset Disposal Relief lifetime limit

HMRC’s Wealthy Team are sending One-to-Many (or ‘nudge’) letters to c.500 taxpayers who, according to HMRC, have either exceeded the £1million Business Asset Disposal Relief (BADR) lifetime limit by making a claim in 2023/24, or who had already exceeded the limit prior to then. Recipients are being urged to check their tax return entries and previous relief claims in light of the lifetime limit and make any changes that are necessary; failure to do so may result in HMRC’s correcting the entries themselves.

Please check your Business Asset Disposal Relief claim - This Year
Please check your Business Asset Disposal Relief claim - Already Over