If you have undeclared income or gains, no matter how small, simply by declaring these ‘unprompted‘, that is before HMRC discover them, you will significantly reduce the amount you have to pay and in some case you may remove penalties completely.
With the introduction of the Common Reporting Standard and the sharing of data between governments and financial institutions globally, we are seeing a significant increase in enquiries raised as a result of CRS application. With penalties now reaching 200% of the tax due, it is essential you get in front of any potential non compliance as soon as possible.
We can advise on disclosure of historical tax utilising specific disclosure facilities ensuring you are in brought in compliance with your obligation whilst mitigating tax liabilities, penalties and interest.
We have specialist knowledge of:
- Worldwide Disclosure Facility
- Let Property Campaign
- Common Reporting Standard
Call us for a confidential discussion around your situation.
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