![]() Unless you email the notification to HMRC’S option to tax unit you will not receive any form of acknowledgment of receipt. ![]() This will confirm the date of the notification and will evidence that it was made in the correct timescale. The responsibility is on the taxpayer to prove they have made a valid notification of an option to tax – the notification is the requirement, not proof of HMRC’s acceptance.įrom the 1 st Feb 2023 on notifying an option to the Option to Tax Unit at HMRC, an automated response will be issued and should be kept in your records. Put simply HMRC will stop issuing a formal “Option to Tax Notification Receipt” letter from this date. This will create some concerns, I’m sure, for those in the legal profession who seek to enforce warranties, when a property is bought and sold, as to the existence of evidence of a valid option to tax exercised on the property. Managing the records in this regard will become even more important in 2023 as HMRC have decided to implement changes to their response approach when taxpayers write in to notify options. ![]() Part of the reason for this control process is to inform current and future Finance staff as to the assets they hold interests in where their organisation has notified HMRC of their option to tax. We do encourage our clients who hold a number of property interests to maintain a Property Asset Register for VAT management purposes.
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