HMRC are undertaking a review of company directors to ensure that they are submitting complete and correct self assessment tax returns.
HMRC have issued letters requesting confirmation of employments, directorships, self employed income and dividends, alongside any other sources of income.
David Nash, Partner at Magma said: “Companies House lists details of all directors and so it will not be difficult for HMRC to identify those who are not filing self assessment tax returns. Directors of both start-ups and established companies, who are not filing self assessment returns, should seek advice to ensure that they are compliant with their tax filing and payment obligations and to avoid penalties.”