The worldwide disclosure facility is now available to any individual who has not paid ‘the right amount’ of UK tax wholly or partly in relation to an offshore issue. There are no favourable terms but much higher penalties and sanctions will apply from 30 September 2018. The need to use HMRC’s digital disclosure service online portal belies the complexity of the analysis and level of expertise which may be required to prepare a disclosure. A new non-statutory clearance process can be used to obtain advance agreement on certain complex issues.
The worldwide disclosure facility is now open and higher penalties and sanctions will apply from 30 September 2018 for non-compliance. Helen Adams and James Kennedy (BDO) examine its terms.
The worldwide disclosure facility is now available to any individual who has not paid ‘the right amount’ of UK tax wholly or partly in relation to an offshore issue. There are no favourable terms but much higher penalties and sanctions will apply from 30 September 2018. The need to use HMRC’s digital disclosure service online portal belies the complexity of the analysis and level of expertise which may be required to prepare a disclosure. A new non-statutory clearance process can be used to obtain advance agreement on certain complex issues.
The worldwide disclosure facility is now open and higher penalties and sanctions will apply from 30 September 2018 for non-compliance. Helen Adams and James Kennedy (BDO) examine its terms.