UK TAX DISCLOSURE

We have experience assisting taxpayers whose UK tax filings are delinquent or  incomplete.

Whether omissions are inadvertent or not we can help you find the best way forward. Our experience  includes handling HMRC checks and enquiries into tax returns as well as helping you submit disclosures to HMRC, if required.

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Requirement to Correct

The Finance (No. 2) Act 2017 introduced new penalties for UK taxpayers who did not disclose their offshore non-compliance, in tax years up to and including 2015/16, by 30 September 2018. This legislation was known at the time as the Requirement To Correct, with the penalties for disclosure after that date referred to as Failure To Correct penalties. In many cases these penalties will be 100-200% of the tax due and can in certain cases include 10% of the asset.

We will aim to put you mind at ease during this stressful time and act as your advocate.