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I'm Nigerian. How can I have a UK tax problem?

If you are an individual, trustee or director/shareholder of a non- UK company (or equivalent entities, e.g. foundations/anstalts) and have consistently resided outside of the UK you may still have a UK tax problem that needs an urgent review.

About the author

Akin Coker

+44 (0)20 7556 1332
cokera@buzzacott.co.uk

The UK introduced legislation in late 2017 called ‘Requirement to Correct’ (RTC). In summary, if you do not correct an historic UK tax error before 30 September 2018, and the UK tax authorities (HMRC) later discover the mistake (e.g. through information received under the Common Reporting Standards sharing regime); there will be crippling penalties (200% of the tax plus 10% of the value of any related assets) and HMRC may publish your details on their website, which is watched by the media.

 

If you have had ANY link to the UK, please read the attached insight because it could save you a lot of stress and, ultimately, money.

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