HMRC has published guidance clarifying the circumstances under which individuals may be held jointly and severally liable for income tax obligations arising from coronavirus support payments received by companies through HMRC-administered schemes. The factsheet sets out the tax liability implications for those connected to businesses that benefited from COVID-19 relief programmes. This guidance helps affected parties understand their potential tax exposure related to support payments their companies received during the pandemic.
Source: HMRC (GOV.UK) – Read the original