Are you a UK taxpayer with undeclared assets in Jersey? Take advantage of HMRC’s Jersey Disclosure Facility.
The Jersey Disclosure Facility provides taxpayers with hidden assets or undeclared earnings held in Jersey to rectify their tax affairs. The facility can be used to make a full disclosure of outstanding payments and pay any amount owed.
What are the benefits of the Jersey Disclosure Facility?
- HMRC will only go back as far as 1999. Normally, HMRC can investigate back as far as 20 years.
- Penalties of up to 10% can be applied for the period up to and including the 2007/08 tax year. A penalty of 20% will be applied in most circumstances from 2008/09 onwards. HMRC can now charge 200% penalties in exceptional circumstances.
- The facility is confidential – no naming and shaming.
- Unlike other disclosure facilities, such as the LDF, there is no minimum deposit requirement.
So, if you have undeclared assets in Jersey contact KinsellaTax today and talk to us about registering for the Jersey Disclosure Facility.
A member of our team will hold a confidential discussion with you about your tax situation and provide you with expert, honest advice and support on all areas of the Jersey Disclosure Facility.
Take advantage of the benefits of this facility now – the JDF closes on 30 September 2016.
Act now and get in touch with KinsellaTax today. Call our team now on 0800 471 4546.