What is a Voluntary Disclosure?
It is a declaration to HMRC for unpaid tax – a kind of Tax Amnesty. Over the past few years, HMRC has introduced a number of campaigns to make disclosing unpaid income and tax easier for those who have not fully paid their dues. These campaign come and go but you can still disclose even if a particular campaign is not available. Of course, HMRC’s sole raison d’etre is to recover as much tax as possible from all earned income. The campaigns are set up to encourage you, the taxpayer to come forward and admit that you have not paid enough tax.
The Revenue is massively in favour of these campaigns which in the past have encouraged plumbers, electricians and frankly anyone with any offshore income to come forward and declare. The idea is that the level of tax penalties will be less severe if you volunteer the information rather than have HMRC come after you. They have recovered nearly £1bn doing this so you can see the incentive for them to keep on pushing!
Who Can Make a Voluntary Disclosure?
- an individual
- a nominated partner
- a trustee of a trust
- an officer of a company
- an agent
A Voluntary Disclosure HMRC is in the Revenue and Customs best interests. This is why they run a number of campaigns to taxpayers, encouraging them to ‘come clean’. They are specifically targetting areas where they feel there is a potential loophole and an opportunity to generate extra taxes.
HMRC are currently running three campaigns which there is no closing date for. Each campaign has a dedicated helpline people can call.
- Second Income Campaign – Aimed at employees in the UK who undertake additional freelance work or have a second job which is self-employed.
- Let Property Campaign – Targeting landlords who let our residential property in the UK or abroad and aren’t declaring the letting income
- Card Transaction Programme – Aimed a businesses who accept debit or credit card payments but aren’t declaring it
If you don’t fall under any of these categories you can still use service to make an unpaid tax Voluntary Disclosure. You can also use the service if you have any other income which has not been declared and the tax remains unpaid.
- Income Tax
- Capital Gains Tax
- National Insurance contributions
- Corporation Tax
We can advise on the following types of disclosure services to rectify your problems as quickly as possible:
- Contractual Disclosure Facility COP 9 – we will prepare the disclosure report required in order for you to receive immunity from prosecution and negotiate a settlement with HMRC on your behalf.
- Offshore Disclosure/Worldwide Disclosure – we can advise you on the Offshore Disclosure declarations available to you, this will result in a lower penalty than waiting for the outcome of an investigation.
- The Swiss/UK Tax Agreement – we can assist UK taxpayers with undisclosed funds in Swiss bank accounts and help you make a disclose these to HMRC.
- The Guernsey Disclosure Facility (GDF) – we can provide reassurance and support for previously hidden assets in Guernsey.
- The Jersey Disclosure Facility (JDF) – we can manage the disclosure process with undeclared assets in Jersey.
For advice on how to make your tax disclosure, call KinsellaTax on 0800 471 4546 and speak to one of our team. We offer a free confidential consultation where we can assess the situation and explain the options available.
What Our Clients Say
How To Make a Voluntary Disclosure
Individuals have required to make a voluntary disclosure statement. They must register their interest in making a disclosure with HMRC using the Digital Disclosure Service. They will then receive a reference number and confirmation from the tax office. Then if they wish to use one of the campaigns available they must fill in a form and send in all the relevant back-up information and documents. They recommend that full disclosure should be made as soon as possible to reduce the eventual punishment. Any information sent should include calculations of how much income is being declared and the subsequent tax that is due. You will be asked to sign a disclosure certificate stating that you have fully complied and supplied all of the information due.
If you owe income tax or have made any gains that you should have told HMRC about then speak to us first. Once you have told them directly you will only have 90 days pay any unpaid tax. Call us before you speak to them for expert advice on what to do – don’t make the mistake of making a voluntary disclosure without help! We will provide help, advice & information in confidence and you will not even have to give us your name: 0800 471 4546
Submitting a disclosure voluntarily to HMRC puts you in the driving seat.
HMRC will give you maximum points for coming forward and submitting a voluntary disclosure. KinsellaTax are the people to prepare your voluntary tax disclosure form & report for you and fight your corner.
We will submit this on your behalf to get the best deal!
If you have deliberately misinformed HMRC then you can ask to use the Contractual Disclosure Facility (CDF) or Code of Practice 9. It is reported in 2018/2019 438 individuals in the UK entered into this facility, a third of whom entered into voluntarily.
If you make a disclosure in this way then this will protect you from criminal prosecution. This may result in the government not publishing your details on their website for a year!
Making a disclosure voluntarily means penalties will be substantially lower than if the revenue opened up a case against you. it will also ensure that your UK tax affairs are fully up to date so that you can relax!
HMRC Voluntary Tax Disclosure Specialists
Voluntary Disclosure Penalties will be substantially lower if you make a disclosure and co-operate fully during the process. The sooner you make submit an HMRC disclosure, the more chance you have of avoiding that dreaded letter landing on your doorstep. Our team make voluntary disclosures on behalf of clients daily, so we know how to battle with HMRC. Why use anyone else?
With KinsellaTax handling your investigation you are in the best hands possible.
To make a voluntary disclosure to HMRC call our investigation specialists NOW on 0800 471 4546.
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