Shreeve Hallam Jones logo 1st Floor, 3 Sharrow Lane
S11 8AE
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T: 0114 327 1480
T: 0033-297-39-59-03

Voluntary Disclosures - UK

A voluntary disclosure is a declaration to HMRC for unpaid tax ­ a kind of Tax Amnesty.

Submitting a disclosure voluntarily to HMRC puts you in the driving seat. HMRC will take account of your voluntary disclosure when assessing any penalties. Voluntary Disclosure Penalties can be as high as 200% of the tax due and can be substantially lower if you make a disclosure and co-operate fully during the process. The sooner you make and submit a disclosure to HMRC, the more chance you have of avoiding that dreaded letter landing on your doorstep.

If you have off-shore income/assets, other undeclared earning, owe income tax or have made any gains that you should have told HMRC about then speak to us first. Once you have told them directly you will only have 90 days to pay any unpaid tax.

We deal with all aspects of the disclosure with HMRC. All you need to do is provide as much information as you are able to. We will calculate your undeclared earnings/gains and agree these with HMRC. We will then tell you how much tax and interest is due along with any penalties we have negotiated.

Unfortunately, if you are reading this after 30th September 2018, then the Worldwide Disclosure Facility offered by HMRC is no longer available. Any disclosure after this date will be determined under the Requirement to Correct (RTC) rule which is more punitive, with minimum penalties of 100% of the tax owed. This is even more reason to correct your tax status through a voluntary disclosure.