An overview by Alvarez & Marsal
HMRC has issued Revenue and Customs Brief 1 (2023) following its recent consultation on the option to tax process. From 1 February 2023, HMRC will not:
- Perform extensive validity checks on options to tax;
- Provide any form of written acknowledgment letters;
- Provide any letters of receipt;
- Check and provide copies of previous options to tax made, except in limited circumstances.
Source Taxand
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