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Worldwide Disclosure
Facility Specialists

Disclosure Of Offshore Income

Worldwide disclosure facility (WDL)

The Worldwide Disclosure Facility is a mechanism to make a voluntary disclosure to HMRC relating to offshore interests. HMRC has increased its focus on the tax-gap and increasing transparency across global tax authorities in an attempt to end offshore tax evasion.

Taxpayers need to ensure they are fully tax compliant with their UK tax obligations, or they could face severe penalties from HMRC.

Worldwide Disclosure Facility allows any individual either UK resident or non-resident to disclose their undeclared income and pay the appropriate amount of tax in the UK.

Churchill Tax are one of the UK’s leading experts in making disclosures on behalf of clients through the Worldwide Disclosure Facility. Our team consists of ex-HMRC Senior Tax Inspectors and highly qualified and experienced tax law specialists. Our experience and knowledge means that we are able to handle any size or type of voluntary or prompted disclosure of undeclared income.

Our track record is that 100% of our disclosures through Worldwide Disclosure Facility or other disclosure routes such as Let Property Campaign etc. have been successful and fully accepted by HMRC.

Why Reviewing Your Tax Position is important?

There are typically four main reasons

  • UK tax legislation is complex and is constantly changing
  • The rules concerning offshore matters have changed drastically lately.
  • Anti-avoidance measures have been introduced, aimed at offshore structures.
  • You could be inadvertently affected by issues created by third parties or changes to complex Tax legislation that you have not appreciated.

 

Increasing global transparency is in place

The new Common Reporting Standard is now in force, which is an automatic exchange of financial information between countries.

Over a hundred countries have committed to exchange information on a multilateral basis under the Organisation for Economic Co-operation and Development Common Reporting Standard. The CRS dramatically increases international tax transparency.

HMRC’s super computer ‘connect’ allows the collection and analysis of millions of lines of data means you might be susceptible to an investigation, even if you do not realise you have a tax issue.

Penalties and other consequences you may wish to consider

HMRC is prosecuting more cases and is now demanding higher penalties for offshore offences. So
You could be at risk of reputational damage from HMRC’s ‘Name and Shame’ powers.

WDF does not provide immunity against HMRC embarking on a criminal investigation. We shall will review your situation to consider whether the WDF is the best option for you.

Voluntary Disclosure of Undeclared Income

The Worldwide Disclosure Facility is mainly used by individuals to disclose their offshore income that has not been previously disclosed in the UK. If you have any undisclosed offshore income and you would like to make a voluntary disclosure to HMRC, the Worldwide Disclosure Facility is the only route that is currently available.

This route will allow you to disclose offshore income going back to 20 years. The main advantage of this option is that the penalties payable are considerably lesser than filing through tax returns.

Disclosure of Offshore Income is a specialist area and you are strongly advised to appoint an tax specialist well experienced in this area.

Our team of experienced tax specialists in the Disclosure of Undeclared Income team will help by taking over the entire worldwide disclosure process.

How Churchill Tax Can Help?

In the first instance, we will undertake a review of your particular circumstances and provide you with our opinion on how best to deal with your Tax affairs. If required, we will assist you in making a voluntary disclosure to HMRC, we have considerable experience in assisting clients in making WDF disclosures.

If you have received a letter from HMRC or if would like to make a voluntary disclosure to HMRC then please call us on 0333 577 0829 for a confidential and no obligation discussion.

WORLDWIDE INCOME DISCLOSURE FACILITY

Worldwide Disclosure Facility allows any individuals either UK resident or non-resident to disclose their undeclared income and pay the appropriate amount of tax in the UK. The Worldwide Disclosure Facility replaces the previously available disclosure route known as Liechtenstein Disclosure Facility. Churchill Tax Consultants are one of the UK’s leading experts in making disclosures on behalf of clients through the Worldwide Disclosure Facility. Our team consists of ex-HMRC Senior Tax Inspectors and highly qualified and experienced tax law specialists. Our experience and knowledge means that we are able to handle any size or type of voluntary or prompted disclosure of undeclared income. Our track record is that 100% of our disclosures through Worldwide Disclosure Facility or other disclosure routes such as Let Property Campaign etc. have been successful and fully accepted by HMRC.

DISCLOSURE OF OFFSHORE INCOME

The Worldwide Disclosure Facility is mainly used by individuals to disclose their offshore income that has not been previously disclosed in the UK. If you have any undisclosed offshore income and you would like to make a voluntary disclosure to HMRC, the Worldwide Disclosure Facility is the only route that is currently available. This route will allow you to disclose offshore income going back to 20 years. The main advantage of this option is that the penalties payable are considerably lesser than filing through tax returns. Disclosure of Offshore Income is a specialist area and you are strongly advised to appoint an tax specialist well experienced in this area.

Received a letter from HMRC to disclose your undeclared income through Worldwide Disclosure Facility?

If you have received a letter from HMRC asking you to disclose your income through Worldwide Disclosure Facility, then you need to contact a specialist in this area as soon as possible. This type of disclosure is known as a prompted disclosure. Please contact us on 0333 577 0829 for a free and confidential consultation in relation to disclosure of offshore income.

HOW CAN WE HELP?

Voluntary Disclosure of Undeclared Income Alternatively, if you would like to make a voluntary disclosure of your undeclared income (UK and offshore) before being prompted by HMRC, then it is very important that you do not delay this and contact us as soon as possible. A voluntary disclosure will ensure that you receive lesser penalties and that HMRC’s stance towards your disclosure will be much friendlier. How We Can Help With the Worldwide Disclosure Facility Our team of experienced tax specialists in the Disclosure of Undeclared Income team will help by:
  • Taking over the entire Worldwide Disclosure Process.
  • Filing the initial disclosure to HMRC.
  • Liaising regularly with HMRC in relation to your disclosure.
  • Liaising with you and your accountant (if applicable) in relation to the disclosure.
  • Gathering information.
  • Discussing the status of the disclosure and potential tax liabilities and penalties with you.
  • Ensure that the least amount of penalties are paid.
  • Submitting a full disclosure to HMRC and ensuring that it is agreed in full.
  • Arranging a suitable payment plan for you to pay the tax owed
If you are considering disclosing your undeclared income through Worldwide Disclosure Facility, you can contact us on 0333 577 0829 for a free consultation with our tax specialists.

Worldwide Disclosure

BOOK A CONSULTATION

Churchill Tax provides all types of tax advice on complex issues to individuals and companies across all sectors. We make the time and effort to understand our client’s businesses and needs and our tax experts have a proactive and flexible approach to helping clients overcoming the challenges they face.

GOT A QUESTION?

If you believe that you may need to make a disclosure, or have received a letter from HMRC, please call us on 0333 577 0829 or complete a contact us form to book a consultation with a professional – you have only to gain by getting in touch’.

OUR EXPERIENCE

At Churchill Tax we have extensive experience dealing with HMRC Investigations and we regularly deal with Tax Inspectors within HMRC’s Specialist Investigations and Local Compliance Fraud teams. Our people have worked in Tax Investigations teams at ‘Big 4’ accountancy firms, niche tax investigations practices and within HMRC as Tax Inspectors. At Churchill Tax, our personal, friendly and understanding approach ensures that we provide the best possible service at the most competitive prices. 

HOW WE DEAL WITH HMRC

Legislation imposes restrictions on what HMRC is allowed to do, and Churchill Tax will make sure that the Tax Inspector carrying out the enquiry does not exceed the powers they are given by law. We will consider the level of seriousness of the tax investigation being carried out by HMRC by looking at who is leading the investigation and the nature of the questions they are asking. We will give you the best professional advice on how to deal with HMRC so that you achieve a settlement as quickly as possible. 

WHAT WE OFFER

WE UNDERSTAND REQUIREMENTS
We are amongst the UK’s leading Tax specialists with a wealth of experience. We provide professional firms, individuals and privately owned businesses with a comprehensive range of specialist tax & advisory support across all of the major taxes.
WE WORK PRECISELY
When appointing a Tax specialist to act on your behalf, it’s important to know that you’re in good hands. You need to know that the advisor you appoint has the experience, skills and courage required to achieve the best possible outcome for you.
WE DELIVER BEST OUTPUT
Our role is as much about supporting our clients personally as it is about providing professional and effective Tax representation. This is why we have implemented facilities such as flexible payment options , that aim to make the process straight forward and stress free.

Have you received a notification of HMRC investigation?

BOOK A CONSULTATION

Churchill Tax provides all types of tax advice on complex issues to individuals and companies across all sectors. We make the time and effort to understand our client’s businesses and needs and our tax experts have a proactive and flexible approach to helping clients overcoming the challenges they face.

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