HMRC has stated that the Worldwide Disclosure Facility is the final chance to put things right for those individuals with outstanding UK tax liabilities on undeclared offshore money or assets.
Over 100 countries have committed to exchange information on a multilateral basis under the Organisation for Economic Co-operation and Development Common Reporting Standard (CRS). The CRS dramatically increases international tax transparency. Don’t get caught out…
HM Revenue & Customs (HMRC) and other tax authorities across the world are increasing their focus on the tax gap and putting tax transparency at the top of their agenda.
Tax compliance is more critical than ever before. If you think you may not be completely compliant, the message is clear – tell HMRC or face increasingly severe consequences.