Do you receive overseas income or gains?
We have recently seen a significant increase in letters from HMRC to people who receive income or gains from an account or investment overseas, particularly from the United States. If this is you we can help you provide the necessary information and minimise penalties by guiding you through the HMRC ‘Worldwide Disclosure Facility’: www.gov.uk/guidance/worldwide-disclosure-facility-make-a-disclosure
Do you receive income from letting property?
As above, HMRC are also writing to landlords receiving income from letting property. We can help you with the disclosure of any such income HMRC may be unaware of, using their Let Property Campaign: www.gov.uk/let-property-campaign
If you can answer yes to either of the above questions and you haven’t already received one of these letters, it is very likely you will soon. At Porter Garland, we have been working with a number of clients who have and we are therefore able to offer expert advice on what to do next.
It is vital you don’t ignore or delay your response to HMRC’s request to disclose this information, so do please ask us for help. Call Amanda Williams FCA or Thomas Pottinger FCA on 01276 674870.