Offshore Tax Disclosure

A number of Memorandums of Understanding (MoU) have been signed with individual countries to allow financial information of UK residents to be shared with HM Revenue and Customs (HMRC). The MoU includes special terms and conditions that allow UK residents with undeclared offshore assets, income or gains to settle and regularise their tax affairs with HMRC on favourable terms.

Offshore tax disclosure
Cayman Islands Tax Disclosure
Liechtenstein Disclosure Facility (LDF)
Isle of Man Disclosure Facility (IoMDF)
Jersey Disclosure Facility (JDF)
Guernsey Disclosure Facility (GDF)
Swiss/UK tax agreement

Tax evaders can face fines of up to 200% of the tax owned and the possibility of a criminal prosecution. Moreover, the Liechtenstein Disclosure Facility (LDF) and other voluntary disclosure schemes provide a beneficial opportunity to settle on favourable terms however it cannot be used once an individual has been notified by HMRC that they are ‘under investigation’.

We strongly recommend any UK residents with undeclared offshore assets, income or gains to settle and regularise their tax affairs as soon as possible.

YOUR SPECIALIST TAX TEAM

For further information, or to arrange a free introductory meeting,
please contact Paul Williams (ex-HMRC) or Ian leigh on 020 7309 2222.

Offshore Tax Disclosure

YOUR SPECIALIST TAX TEAM

For further information, or to arrange a free introductory meeting, please contact Paul Williams (ex-HMRC) or Ian leigh on 020 7309 2222.

Bhimal Hira

For further information, or to arrange a free introductory meeting,
please contact Paul Williams (ex-HMRC) or Ian leigh on 020 7309 2222.