The Tax Break Podcast | Director's accountability for tax
Published on 12th May 2023
What are the potential risks for directors, and the situations in which they could be liable for a company's tax, or exposed to penalties in relation to a company's tax affairs?
In our latest podcast, Ian Hyde, who heads up our UK tax disputes team and Harry Harper, an associate in the same team, discuss situations where a company director in the UK can be liable for a company's tax.
There is an express statutory provision allowing recovery of tax from directors in certain situations of which directors should be aware.
Insolvency situations are an area where HMRC might look to recover unpaid tax from directors, and the podcast discusses the steps directors can take to protect themselves against liability in those circumstances, as well as what might amount to "serious neglect" by a director.
Finally, Ian and Harry look at what penalties could be imposed on directors by HMRC and consider how the senior accounting officer regime (which applies only to large businesses) fits in here.
Listen to the podcast and subscribe.