ÀÏ˾»úÎçÒ¹¸£Àû

Customer relationship manager for high net worth taxpayers

Produced by Tolley in association with
Personal Tax
Guidance

Customer relationship manager for high net worth taxpayers

Produced by Tolley in association with
Personal Tax
Guidance
imgtext

Customer relationship managers

HMRC established its High Net Worth Unit(HNWU) in 2009 to deal with the personal tax affairs of the UK’s wealthiest taxpayers.

The aim of the unit is to obtain a deeper understanding of the affairs of taxpayers within this population. Each taxpayer dealt with by the unit is assigned a Customer Relationship Manager (CRM), who acts as a point of contact for tax agents and taxpayers, enabling informal real time discussions with HMRC about areas of tax risk and uncertainty.

These conversations can be mutually beneficial as they decrease the risk of misunderstandings and therefore the need for formal enquiries and can provide some level of certainty for taxpayers when potentially tax-sensitive transactions take place.

The HNWUdeals with taxpayers with a worldwide wealth of around £20 million or above and with complex tax affairs. This group initially represented the top 5,000 taxpayers in the UK. There will, however, be individuals within the UK who have complex tax affairs or assets in the millions that

Continue reading
To read the full Guidance note, register for a free trial of Tolley+â„¢
Powered by
  • 14 Sep 2022 10:50

Popular Articles

Residential property and capital allowances

Residential property and capital allowancesResidential property ― plant and machinery allowancesOrdinary residential property does not, and never has, qualified for capital allowances. as CAA 2001, s 35 denies plant allowances for expenditure incurred in providing plant or machinery for use in a

14 Jul 2020 17:14 | Produced by Tolley in association with Martin Wilson and Steven Bone Read more Read more

Loans written off

Loans written offCompanies sometimes provide directors, employees or shareholders with low interest or interest-free loans either as part of the reward package or on special occasions to help the individual meet significant expenditure. The employment income implications of these loans are discussed

14 Jul 2020 12:11 | Produced by Tolley Read more Read more

Exemption ― insurance ― overview

Exemption ― insurance ― overviewThis guidance note provides an overview of the VAT treatment of insurance products and should be read in conjunction with the Insurance ― specific transactions and Exemption ― insurance ― brokers and agents guidance notes.Is insurance exempt from VAT?Supplies of

Read more Read more