Here, we help a client who had concerns regarding his offshore activities to correct any irregularities and avoid penalties by making a complete voluntary disclosure to HMRC.

In 2019, we were approached by Harry*, referred to us by his lawyer, who had concerns regarding his overseas businesses and activities. His queries related to the potential impact of recent legislation targeted at irregularities relating to offshore income and assets, while he also believed his domicile position could have potentially changed since obtaining advice several years ago.

Reviewing his position

We reviewed his domicile position and confirmed that any change would not affect his tax affairs as he was currently declaring his worldwide income and gains. After this review, we assessed his general affairs, with a view to disclosing any potential discrepancies in his tax filings. Through this exercise, we discovered undeclared benefits received from his overseas company.

Reviewing his position

We reviewed his domicile position and confirmed that any change would not affect his tax affairs as he was currently declaring his worldwide income and gains. After this review, we assessed his general affairs, with a view to disclosing any potential discrepancies in his tax filings. Through this exercise, we discovered undeclared benefits received from his overseas company.

Correct irregularities

We advised the simplest way to resolve this particular discrepancy was via the online disclosure, HMRC’s Digital Disclosure Service. Harry agreed to this approach, and we substantiated that his behaviour did not warrant the imposition of a penalty, and filed the disclosure accordingly.

Case closed

The disclosure was accepted by HMRC within two weeks with no further questions being asked. Following the completion of the disclosure and using our services, Harry shared his experience of working with Buzzacott:

“I met with Mark Taylor and Barbara Bento who quickly understood the issues. Subsequent to this, Mark and Barbara recommended a course of action. Much of the detailed work was carried out by Antony Greenwood who was both responsive and clear as to what was required. Buzzacott liaised with HMRC who subsequently accepted Buzzacott’s proposal within days. I am delighted with the service I received.”

*Clients names changed to protect their confidentiality