Voluntary Disclosure

Voluntary Disclosure CreweThe HMRC run campaigns to encourage individuals and business in certain areas or business sectors to disclose undeclared, or under-declared income.

A list of current sectors investigated can be found at: https://www.gov.uk/government/policies/reducing-tax-evasion-and-avoidance/supporting-pages/hmrc-campaigns

Campaigns offer people a chance to get their tax affairs in order on the best possible terms but you must come forward voluntarily. By voluntary disclosure you will be able to reduce your liability by not incurring numerous charges and penalties. In our experience this is a minimum saving of around 20 to 40% and we can assist you with this.

Should you not take the opportunity to set the record straight voluntarily, the HMRC may use the information, gathered before and during the campaign, to conduct follow-up work. This includes investigations and prosecutions.

If you know or suspect that you need to disclose undeclared income, profits and/or gains to HMRC, whether they arise in the UK or offshore, you should speak to Shires before communicating with the HMRC.

Disclosure is a specialist area that we have excellent experience in. The management of the disclosure process and the way in which the relevant facts are presented to HMRC are key to achieving maximum penalty relief and protecting you from further enquiry by HMRC. In addition, you can also protect yourself from being ‘named and shamed’ by HMRC as part of its Deliberate Defaulters Program.

If you are considering a voluntary disclosure, have a new or ongoing forced disclosures (non-voluntary), enquiry or investigation we can help, the most important thing is not to put it off any longer Contact Shires anything you discuss with us will be treated in the strictest confidence and we can best advise you on your affairs.

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