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Company directors on next HMRC hit list

We are seeing reports in the professional press that HMRC are now turning their attention to company directors.

This may seem odd at first glance, because it is a basic requirement that any director of a UK company needs to file a tax return. However, it is our understanding that HMRC's focus is directed towards a number of particular issues that can arise such as dividends and benefits, plus other sources of income such as private rental income and multiple directorships.

Directors usually have an accountant or tax adviser who takes care of such issues and any director doing so would be forgiven for assuming that there is nothing to be concerned about. Sadly, in our experience, this is not always the case. 

If there is any doubt, you should seek a second opinion.