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Case study: HMRC accepts undeclared overseas benefits disclosure within two weeks.

Find out how we demonstrated that undeclared benefits received from overseas company for our client did not warrant the imposition of a penalty, which was later accepted by HMRC within two weeks. 

About the author

+44 (0)20 7556 1243
taylorm@buzzacott.co.uk

In 2019, an individual was referred to us by his lawyers, who had concerns regarding his overseas affairs and the potential impact of recent legislation targeted at irregularities relating to offshore income and assets. In addition to this, the client believed his domicile position could have changed since obtaining advice a number of years ago.

Following a review of his domicile position, we confirmed that any change would not affect his tax affairs, and then assessed his position generally, with a view to disclosing any discrepancies in his filings. Only one issue arose regarding undeclared benefits received from his overseas company. 

The simplest way to deal with this was by an online disclosure, using HMRC’s Digital Disclosure Service. The client agreed to this approach and we established that the client’s behaviour did not warrant the imposition of a penalty, and filed the disclosure accordingly.

The disclosure was accepted within two weeks with no further questions being asked. Following the completion of the process, the client had this to say about 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."

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