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HMRC playing ‘dividend detective’?

Shared from Tax Insider: HMRC playing ‘dividend detective’?
By Lee Sharpe, June 2024

Lee Sharpe reports on HMRC getting all ‘Nancy Drew’ with its sleuthing over company reporting and shareholders’ dividend income returns. 

HMRC recently undertook a ‘One to Many’ letter campaign, wherein HMRC’s skilled data analysts undertake to mine nuggets from a huge range of sources to test for omissions or errors in tax returns. 

HMRC’s One to Many campaigns are typically one-to-not-so-many, targeting a relatively small percentage of the taxpaying population. But this more recent campaign is potentially much wider in scope.  

The professional bodies variously reported that HMRC had started a mass-mailing campaign early in 2024 to challenge dividends that appeared to be ‘missing’ from individuals’ tax returns. 

Dividend disclosures 

It seems that HMRC has started to use data extracted

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