IRInd1MMLetter asking a reader to check an incorporation relief claim

HMRC's letter IRInd1MM says the reader's 2017 to 2018 Self Assessment return declared a disposal of property interests with no Capital Gains Tax (CGT) due because incorporation relief was applied.

“IRInd1MM … In your 2017 to 2018 Self Assessment return, you declared a disposal of your property interests but stated no Capital Gains Tax (CGT) was due because incorporation relief was applied.”

CIOT: copy of HMRC letter IRInd1MM, published on its page · checked 14 October 2026

CIOT said, on its page for HMRC's letter IRInd1MM, that HMRC was starting a One to Many (OTM) letter campaign in November 2023 that would target a small population of taxpayers who had incorporated their property business in the tax year 2017/18 but reported no Capital Gains Tax (CGT) liability on the basis that incorporation relief under section 162 Taxation of Chargeable Gains Act 1992 applies in full.

“HMRC are commencing a One to Many (OTM) letter campaign in November 2023 which will target a small population of taxpayers who have incorporated their property business in the tax year 2017/18 but reported no Capital Gains Tax (CGT) liability on their Self Assessment tax return on the basis that incorporation relief under section 162 Taxation of Chargeable Gains Act 1992 applies in full.”

CIOT: HMRC One to Many Letter – Capital Gains Tax Incorporation Relief – Property Businesses · checked 14 October 2026

HMRC's letter IRInd1MM asks the reader to check that they have correctly calculated the incorporation relief available to them.

“IRInd1MM … Please check that you’ve correctly calculated the incorporation relief available to you.”

CIOT: copy of HMRC letter IRInd1MM, published on its page · checked 14 October 2026

HMRC's letter IRInd1MM says a reader who thinks the information on their Self Assessment return is correct needs to let HMRC know.

“IRInd1MM … If you think the information on your Self Assessment return is correct, you need to let us know.”

CIOT: copy of HMRC letter IRInd1MM, published on its page · checked 14 October 2026

CIOT said that HMRC's letter IRInd1MM asks the taxpayer to check they have correctly calculated the incorporation relief available to them, and, if they need to disclose an error, to submit a disclosure to HMRC using the email address provided in the letter.

“The letter asks the taxpayer to check that they have correctly calculated the incorporation relief available to them … If the taxpayer needs to disclose an error the letter asks them to submit a disclosure to HMRC using a dedicated email address provided in the letter.”

CIOT: HMRC One to Many Letter – Capital Gains Tax Incorporation Relief – Property Businesses · checked 14 October 2026

HMRC's letter IRInd1MM points to GOV.UK, search “Incorporation Relief”, to find out more.

“IRInd1MM … To find out more, go to GOV.UK and search ‘Incorporation Relief’.”

CIOT: copy of HMRC letter IRInd1MM, published on its page · checked 14 October 2026

HMRC's letter IRInd1MM gives the phone number 03000 575 687 for a reader with questions after reading the guidance.

“IRInd1MM … phone us on 03000 575 687 between 9am and 5pm, Monday to Friday”

CIOT: copy of HMRC letter IRInd1MM, published on its page · checked 14 October 2026