HMRC helping individuals to disclose undeclared tax

HMRC has updated its disclosure service calculators used to work out the tax, interest and penalties owed on outstanding tax to include the 2016/2017 tax year.

Trustees and tax advisers can use HMRC’s calculators to help work out the tax, interest and penalties owed on straightforward tax affairs.

The disclosure service is for those who have not declared all income or gains, either personally or through a company.

Individuals will need to:

  • be eligible for an HMRC Campaign.
  • want to disclose income or gains that wholly or partly relate to an offshore issue as part of the Worldwide Disclosure Facility.

Individuals can also use the online form service if they do not qualify for a current HMRC campaign, but have not declared the right amount of income or tax for one or more of the following:

  • Income tax
  • Capital gains tax
  • National Insurance contributions
  • Corporation tax

For more go to https://www.gov.uk/government/publications/hm-revenue-and-customs-disclosure-service?utm_source=d9cebf2b-cb03-4247-b4c4-6521634a9c0f&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate.

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