With the Joint Liability Notice, the taxman has added a powerful weapon to his armoury. David Lewis and Haris Rehman explain what a JLN is and how it has come about.
Although a cornerstone of the modern commercial world, HMRC has always experienced operational difficulties with entities such as companies that enjoy the benefit of limited liability.
To overcome this, in the past few years HMRC has attempted to introduce measures to “pierce the corporate veil” – that is the “veil” that shields shareholders from personal responsibility for the debts of the businesses they own.
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