As A General Rule, It’s Better To Talk To HMRC Before They Find You On Their Own Accord
That’s why offshore disclosures are so useful. There are many varieties of offshore disclosure facilities but they all share a common goal, to help you get your offshore assets, investments and monies declared in the UK.
It is not illegal to have assets, monies or investments offshore as long as you include them on your UK tax return and thus pay the appropriate tax on them. However, this isn’t who the offshore disclosure facilities are for, instead it is for those who have been using offshore tax havens to hide undisclosed assets from HMRC in order to avoid paying tax.
If HMRC Find You Before You Talk To Them, You Could Have To Pay 200% Of Tax Avoided
With whistle blowers passing information anonymously to HMRC from large banks regarding offshore accounts, along with new regulations and banks even closing offshore accounts all working against you and your undisclosed offshore assets, you should make sure that you contact HMRC before they contact you.
This reduces the penalties you’ll have to pay and opens up a much more positive line of conversation with HMRC. The latest news is that 2000 new investigators have been hired to process the new information, giving an idea of the scale of the current crackdown.
The Services Of A Reputable Advisor Are Indispensable For Reducing Tax Due As Well As Stress And Disruption
Not only can the process be time consuming and stressful, it can also be very stressful. Luckily, we have experts on hand which include ex-HMRC investigators who are all outstanding in their field. With our help, you’ll have the lowest possible amount of tax due and become UK tax compliant in no time.