One to Many letters concerning the BADR lifetime limit
29 May 2024
HMRC’s Wealthy team are sending letters to those who made a BADR claim in their 2022/23 returns and in doing so either exceeded the £1million lifetime limit in that year, or who had already done so prior to 2022/23. Recipients are being invited to amend/remove the BADR claim within 30 days, otherwise HMRC may correct the return under s.9ZB and potentially impose penalties as well as interest on additional tax charges.