Tax Investigation Specialists

WLHTax - Services

HMRC Tax Disclosure

Why wait for HMRC to come after you?

It will always be better for you to go to HMRC to tell them about any issues with your tax affairs rather than waiting for them to open a tax investigation. In the most serious cases making the disclosure on a voluntary basis can make the difference between HMRC agreeing to a financial penalty rather than carrying out a tax investigation with the intention of a criminal prosecution. In addition, the financial penalties imposed by HMRC are reduced where there has been an unprompted disclosure.

In recent years, HMRC has publicised various disclosure facilities and campaigns targeted at particular groups of taxpayers. For example, they have launched campaigns for plumbers, medical professionals, buy-to-let landlords, online traders and people with offshore bank accounts. In each campaign HMRC gave the taxpayer an opportunity to come forward and make a voluntary disclosure of any irregularities; the incentive offered was that HMRC would limit the period over which they would recover the unpaid tax. Reduced financial penalties were also imposed. On the contrary, if a taxpayer did not come forward then HMRC would view any irregularities more seriously and impose higher financial penalties.

Even if HMRC does not launch a campaign into a taxpayer’s particular area, they will still look favourably on any taxpayers who come forward voluntarily. Not only are they more likely to accept the taxpayer’s explanations in circumstances where independent evidence is not available, but HMRC will also reduce the financial penalty they will seek as part of the final settlement. In some circumstances HMRC may even forego a penalty entirely.

An added benefit for the taxpayer is that once a full disclosure has been made to HMRC they will no longer be in fear of that letter arriving from HMRC opening a tax investigation into their affairs.

How can WLH Tax help?

WLH Tax has many years of experience in making voluntary disclosures to HMRC on behalf of clients. We have many contacts in HMRC and we will know who to approach with your particular case.

WLH Tax can review your circumstances to ensure that the disclosure you make is presented to HMRC in the best possible light in order to minimise your tax exposure. We will ensure that your disclosure is dealt with in a professional manner to ensure that it is accepted by HMRC and matters are resolved quickly.

Call us now

If you are considering making a voluntary disclosure of tax irregularities to HMRC then please contact us on 020 7491 9690 or 020 7491 9696 for a free, confidential and no obligation discussion. We are happy to have an initial free of charge meeting with prospective clients.