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Voluntary Disclosures

HMRC is working towards minimising the tax gap between the revenues that HMRC believe should have been collected and the actual tax paid by the tax payers. HMRC’s aim is to prevent tax evasion and avoidance by detecting it in an early stage.

In this new era of innovation and technology, HMRC has developed complex systems in trying to identify fraud and tax evasion. Apart from using their analytical computer system, Connect, HMRC has various sources of information: third party records, information regarding bank accounts held in the UK as well as overseas, information exchange agreements with other countries etc., which enables them to discover the hidden economy and harshly prosecute those that avoid or evade tax.

If you have unintentionally or deliberately undisclosed your tax liabilities, you can take advantage of the opportunity that HMRC gives to individuals to get their tax affairs in order by filing Voluntary Disclosures.

By voluntarily uncovering your secret earnings to HMRC and working with a professional adviser you will possibly reduce your risk of penalty costs from 200% to a minimum of 10% of the unpaid liabilities.

Many people use our disclosure service, ranging from individuals who have made a genuine mistake in their tax returns to corporates or individuals who have planned a tax evasion and want to redress it.

How can we help?

We will take the whole load off your chest, explain what your options are, disclose all the additional income and tax liability to HMRC, but mainly, aim to minimise your penalties and interest charges by negotiating with HMRC on your behalf and agreeing a fair settlement.

If you are considering filing a Voluntary Disclosure, you shouldn’t delay it as there is no reasonable excuse for delaying it. We have extensive experience in dealing with HMRC and various Voluntary Campaigns including: Let Property Campaigns, Second Income Campaigns & World-Wide Disclosures.

If you would like to confidentially discuss such tax matters with a professional, please contact us.

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