Offshore and Voluntary Disclosures – How we can help

The Worldwide Disclosure Facility (WDF) allows your business to disclose a UK tax liability that relates wholly or in part to an offshore issue.

Since 2016, the HMRC has been receiving huge amounts of financial information from an information sharing agreement with over 90 countries worldwide agreeing to collaborate.

This information includes account holder names and addresses, values of investments or financial interests, linked businesses and accounts, values and balances of accounts and taxable incomes and gains.

Essentially, this is an opportunity for you as a UK taxpayer, to bring your international tax affairs up to date, using the disclosure facility to declare your income and gains from their overseas investments.

Aside from offshore, HMRC tax investigations in general, are on the increase and it can help to be fully prepared for such enquiries and have expert guidance and support when you need it the most. Fairtax can help in all aspects of a tax investigation and assess your current position and any liabilities, past mistakes or omissions, representing your interests at every stage.

What do you need to do?

It’s better to act early on making a voluntary disclosure, being proactive in declaring past offshore tax activities and potentially taxable income will hold you in better stead than putting it off.

Acting voluntarily will also mean you are charged lower tax geared penalties than if HMRC decided to start an investigation itself. Bringing your tax affairs up to date means it’s one less thing to worry about and is well worth the peace of mind.

We will help you prepare and submit your voluntary disclosure. It will be fully checked and verified by a tax specialist, we will look at any omissions, mistakes, incorrect entries and calculate what is due accurately and diligently on your behalf.

Start the process with a call

We’ll start by guiding you through the process ahead and answer any of your questions or concerns. From there, we’ll work with you collaboratively to prepare your disclosure and advise you on the best possible options to negate the impact of an investigation by being fully prepared with a case on your behalf.

You can be absolutely assured with us, that your matters will be dealt with in a friendly, caring and confidential manner. We understand that it can be difficult for you to begin this process, but we really will make it as pain free as possible and keep you fully up to date on progress at all time.

Call us now confidentially on 0333 577 1940 to get started today.

Get in touch…

For immediate advice and guidance on Offshore and Voluntary Disclosures, please contact our Tax Partners, Stephen Elliott or Patrick Morris on 0333 577 1940. Alternatively you can fill in the enquiry form at the footer of this page.

 

           

 

Need more information on Offshore and Voluntary Disclosures?

We’re here to help. If you have any specific questions you’d like to ask our team, in complete confidence, please email us at info@fairtax.net and we’ll reply within 24 hours. Please also state whether you would like a call back. Fairtax is a trading division of Fairhurst, an accountancy firm with a 70 year pedigree in handling both personal and business tax matters.