HMRC is chasing 5,500 overseas companies that it suspects have underpaid property taxes.
The Revenue will send “nudge” letters to thousands of individuals who own UK property through offshore companies that “appear to have failed to notify” it of tax owed.
HMRC said it plans to write to more than 4,000 companies within the next year that it thinks owe either corporate income tax or annual tax on enveloped dwellings on UK property. A further 1,500 companies will be targeted for unpaid capital gains tax on property sales between 2015 and 2019.
HM Land Registry data in November showed that around 93,000 property titles in England and Wales were owned by overseas companies.
