Voluntary disclosures, disclosure facilities and campaigns
Sometimes irregularities occur in people's tax affairs, but changes in circumstances at a later date mean that they would like to 'come clean' and volunteer the irregularities to HMRC.
Such changes in circumstances may be for example:
- HMRC has announced that it has received information from a bank where you have funds
- HMRC has received information from your trade association e.g. Corgi
- Where information is likely to reach the public domain in a court hearing.
- Death of a relative who had undeclared funds.
- The individuals decide that following severe increases in anxiety and loss of sleep, they will be better off paying what is due and moving on.
However, many people do not know where to start and how to put things right.
In addition to general voluntary disclosures, which can be made at any time, HMRC are allowing groups of people to come forward “en masse” with a commitment to admit to past errors and to pay the right amount of tax in the future.
Although HMRC are targeting groups, such as doctors, dentists and plumbers, they will usually allow other individuals to come forward with undeclared UK income using the same terms as the specific scheme which is running at the time.
We have substantial experience in these areas and can manage the processes on your behalf with HMRC.