HMRC targets overseas corporate property owners

HMRC is sending letters to overseas entities that have registered on the UK’s Register of Overseas Entities (ROE) warning them that they need to report all UK tax liabilities

If they owe UK tax entities will be able to use the worldwide disclosure facility to inform HMRC of any outstanding tax liability and have 90 days to calculate tax liability and agree a resolution with HMRC without being fined.

The letter also confirmed that HMRC has access to all the data registered at Companies House and can use it to assess tax liability and non-compliance, and they should bring their tax affairs up to date.

It is only two weeks since the deadline for signing up to the register so HMRC has moved swiftly to target organisations which may be avoiding tax.

Your free features:

Breaking news and expert analysis
Customisable daily newsletters
Six free CPD learning modules each year
Personalised CPD tracker
Top 75 Firms league tables
Regulatory changes
Hardman’s Tax Data

Tax | Ending the scourge of online VAT abuse by offshore retailers

Finance | Legal updates: danger of digital handshake via email in binding contracts

Tax | UK signs up to automatic exchange of offshore property ownership

Tax | Higher rates of SDLT – behind the Rayner headlines

Navigate

Tax Services

Your free features:

Sign up to Business & Accountancy Daily