Putting Errors Right

Dec 1, 2016 | News

If you have failed to notify HMRC about receiving taxable income or made an error (deliberate or otherwise) you may be unsure how to put things right. HMRC’s disclosure facility offers taxpayers the opportunity to do just that and take advantage of the best possible terms. We are experienced in helping clients navigate the complexities of the campaigns (some being business specific) to achieve the best possible outcomes and pay the right amount of tax. With our professional expertise you will be guided through the process of deciding how many years and what income to include, what penalty if any will be charged and quantify the interest payable.

Timing and quality of disclosures are critical parts of mitigating penalty. Don’t delay in contacting us to discuss how we may help.

HMRC is currently running a ‘Let Property Campaign’ which is an opportunity for landlords who owe tax through letting out residential property, in the UK or abroad, to get up to date with their tax affairs in a simple and straightforward way.

DISCLAIMER – PLEASE NOTE: The news and ideas shared with you are intended to inform rather than advise. Taxpayer’s circumstances do vary and if you feel that tax strategies we have outlined may be beneficial it is important that you contact us before implementation. If you do or do not take action as a result of reading this newsletter, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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