HMRC has begun sending letters to owners and occupiers of UK property where the registered owner is a company, RSM, a provider of audit, tax and consulting services, has stated.
The letters to occupiers in particular may cause alarm and confusion with incorrect or misleading information being provided due to a lack of understanding.
Earlier this year HMRC wrote to many individual taxpayers in relation to information held about overseas income or gains. It is now sending letters on residential property owned by overseas companies as a “nudge” to encourage disclosure of rental income and benefits.
HMRC is se...